Chinese Export Outlook Grim, Could Spark General Slowdown

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China's growth over the last couple decades has largely been fueled by a focus on exporting goods to other countries. But that may not be sustainable for much longer. Now even some official sources are suggesting that a serious export slowdown could be on the way.

Global economic worries have lately been centered on Europe and the United States, but China is deeply affected as well.

A long-time concern for Chinese Communist regime officials has been trying to maintain the export-driven model that has led to high-speed growth. That's becoming more and more of a challenge, especially given decreased spending power and increased caution among overseas buyers.

And now, even official statements are sounding grim on the near-term prospects.

[Shen Danyang, Spokesman, PRC Ministry of Commerce]:
"We cannot be optimistic about the export situation during the coming period."

China's foreign trade fell 8.3 percent from September to October, ending up at roughly $298 billion. This sum remains a strong gain on last year, but the sharp monthly drop is a cause for concern.

Analysts agree that this export decline could have huge implications for the Chinese economy if it becomes a lasting trend.