The Crumbling of China’s Export Market

David DuByne

www.daveseslbiofuel.com
daveseslbiofuel@gmail.com
November 15th, 2008



The Olympics have come and gone, and the promises by Ministry of Finance government spokesmen that the Chinese economy was set to grow healthily and steadily after the summer Olympic Games and that a post-Olympic economic downturn was highly unlikely need to rethink their official statements. Even today after the $500 billion dollar rescue package from the Chinese government the National Bureau of Statistics (NBS) reiterated “China's economy is in good shape despite the changing economic environment, and it will maintain stable with relatively fast growth. We should be confident about the country's economic outlook."

Rosy scenarios now fly around the daily news that even in the worst of global economic times China will be minimally affected. The fundamentals of China's economy are sound, the central government is in total control and if a problem occurs, the solution is already unfolding. The National Development and Reform Commission will continue efforts to expand domestic consumption amid the global economic uncertainty and People's Bank of China says “there is still room to tap more domestic consumption.â€