There were no exports (growth) in 2001 either and we expect that pattern to continue in 2003,
More Quotes from Tim Condon:
China's trade surplus has become a structural feature of the economy, so while political pressure may grow, the economic argument for a stronger yuan is weak,Tim Condon
There's been very strong growth balanced between domestic demand and exports and falling inflation - a very satisfactory outcome from the point of view, I would suspect, of the policy-maker.
Tim Condon
If the US dollar remains firm, then flows looking for an appreciation of the yuan will remain at their 2005 levels or lower and we're forecasting a more or less unchanged trade surplus.
Tim Condon
Investors are conditioned to see politics-induced pricing weakness as a buying opportunity and our base case is that this time will prove no different. Still, this is shaping up as an exciting week.
Tim Condon
Chinese producers will remain competitive in a wide range of manufactured products for some time.
Tim Condon
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