China In Your Hands
The global recession might be hitting China harder than expected. Many had been pinning their hopes on the Chinese economy to help drag the rest of the world out of the current malaise.
Chinese Premier Wen Jiabao announced an official 2009 growth target of 8 percent just last week.
Today, however, new figures just released show that China's exports fell much more sharply in February than anticipated. Exports dropped 25.7% from a year ago, against expectations of a decline of just 5%.
The country's trade surplus shrank from $39.1 billion to just $4.84 billion, analysts had been expecting a $27.3 billion surplus.
Chinese Premier Wen Jiabao announced an official 2009 growth target of 8 percent just last week.
Today, however, new figures just released show that China's exports fell much more sharply in February than anticipated. Exports dropped 25.7% from a year ago, against expectations of a decline of just 5%.
The country's trade surplus shrank from $39.1 billion to just $4.84 billion, analysts had been expecting a $27.3 billion surplus.