China may run a trade deficit by 2023, top economist suggests

Chinese employees work in a high-end leather goods factory in Chengdu Sichuan Province China on November 21. File

Exports rose 7.9 per cent for the year, while imports increased 15.9 per cent in dollar terms, data from the General Administration of Customs showed.

China's exports to North Korea rose 8.3% in 2017 from a year earlier, at $3.34 billion, official data showed Friday.

Imports grew 4.5% year-on-year in the month to $177.1 billion, slowing from a rise of 17.7% in November and the lowest reading in a year, according to the customs data.

In November, China imported no iron ore, coal or lead from North Korea, the second full month of the United Nations trade sanctions.

Chinese private enterprises played a bigger role in trade previous year, edging up 0.4 percentage points in its share of total trade compared with that in 2016.

"Export prospects remain solid, given our outlook for growth globally, although more forceful USA trade restrictions on China's exports remain a key risk, following another rise in the U.S.' bilateral trade deficit in 2017", he said.

Helping to explain the significant increase in the headline trade figure, export growth topped expectations while import growth decelerated sharply.

More news: Girl Scout cookie sales begin February 2

"We have long since expected China's domestic demand and imports to slow in 2018 on gradually tighter monetary and financial policies, and slower real estate activity", Kuijs said. Iron ore imports for the year hit a record high of 1.075 billion tonnes.

The import slowdown caused China's December trade surplus to surge to $54-billion, the highest since January 2016, compared to forecasts for a $37-billion surplus in December from November's $40.21-billion.

Economists say rising trade friction is a key risk for China.

"The record high trade surplus is likely to lead to more trade disputes between China and the USA", said Tommy Xie, an economist at Singaporean bank OCBC.

In November, China stopped exporting oil products to North Korea, after the U.N. Security Council that month imposed new caps on trade with North Korea, including limiting oil product shipments.

The Trump administration is also considering several unilateral tariff actions on steel, aluminium and China's intellectual property practices likely to draw disputes from WTO members.

Related News:

  • Trump use slur for Africa. Haiti while talking about immigrants

    Trump use slur for Africa. Haiti while talking about immigrants

    One lawmaker in Ghana called for a boycott by developing countries against the United States until Trump leaves office. Trump made the comment during a discussion of US visa and immigration policies inside the Oval Office.
    Feds encourage work requirement in Medicaid for able-bodied adults

    Feds encourage work requirement in Medicaid for able-bodied adults

    And, since the expansion of Medicaid under the, its benefits have been a key component in addressing the rise of substance abuse. Rick Scott, did not directly answer whether Scott would support work requirements or co-payments for the Medicaid program.
    Duke Energy (DUK) Downgraded by Goldman Sachs Group to

    Duke Energy (DUK) Downgraded by Goldman Sachs Group to "Neutral"

    Fine tuning their focus in on Raytheon Company (NYSE:RTN) stock, investors are taking a closer look at the equity in recent weeks. COPYRIGHT VIOLATION WARNING: This piece of content was first posted by Week Herald and is the property of of Week Herald.
  • Dissidia Final Fantasy NT Open Beta Download Now Available

    Dissidia Final Fantasy NT Open Beta Download Now Available

    Players don't need to be a PSN subscriber to get access to the beta, which will take place at three different times. So really there's no risk other than the amount of bandwidth that you must give up in order to play the game beta.
    Texas father charged with murder in death of Indian orphan

    Texas father charged with murder in death of Indian orphan

    Sini Mathews has not been charged with any other charges at this time but has been indicted on the child abandonment charge. In a second interview about two weeks after Sherin went missing, the father gave a different account.
    Trump's doctor to answer questions following president's physical

    Trump's doctor to answer questions following president's physical

    The advisers also said one Trump meal in Chicago consisted of two Big Macs, two Filet-O-Fish sandwiches and a chocolate milkshake. Trump was 70 when he took office on January 20, 2017, making him the oldest person ever elected to the nation's highest office.
  • Isro sets 31 satellites into orbit

    Isro sets 31 satellites into orbit

    All satellites have been released. "So far Cartosat performance is satisfactory", he said at the mission control room. The heat shield had not separated because of technical failures of related onboard mechanisms.
    Stock Concentration on Intl Star Inc (ILST) Shares

    Stock Concentration on Intl Star Inc (ILST) Shares

    This is calculated by taking weekly log normal returns and standard deviation of the share price over one year annualized. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company.
    Rihanna Cousin's Murder Suspect Arrested and Charged

    Rihanna Cousin's Murder Suspect Arrested and Charged

    Michael garnered emotional response from his cousin Grammy-Award winning Barbadian singer Rihanna and other family members online. His sister, Tanella , also posted a photo of herself with Alleyne at the hospital, putting an emoji of an angel over his face.
  • Florida man claims $US451 million jackpot

    Florida man claims $US451 million jackpot

    A Florida victor split a $414 million jackpot in 2014, previously the high mark for any ticket sold in the Sunshine State. He elected to take the lump sum option of $281,874,999, and has already had his lawyer set up a trust for him to manage.
    Stocks for Your Case: Wal-Mart Stores Inc. (WMT), Goldcorp Inc. (GG)

    Stocks for Your Case: Wal-Mart Stores Inc. (WMT), Goldcorp Inc. (GG)

    BMO Capital Markets restated a "market weight" rating on shares of Wal-Mart Stores in a research note on Thursday, September 14th. The analysts, on average, are forecasting a $101.97 price target , but the stock is already up 53.22% from its recent lows.
    Karni Sena Protests Against Censor Board In Mumbai, Over 150 Arrested

    Karni Sena Protests Against Censor Board In Mumbai, Over 150 Arrested

    Subsequently, Karni Sena activists assaulted Bhansali on the film's set in Jaipur and another set in Kolhapur was vandalised. The film's certification was due for a long time and it was one of the reasons why the film could not release earlier.


Most liked

Burned by e book, Trump takes concern with nation's libel legal guidelines
Meanwhile, the president also addressed his latest call with South Korean President Moon Jae-In, who Mr. That standard derives from a 1964 Supreme Court ruling, New York Times Co. v.

James White not expected to play as Patriots are thin at RB
If we now were talking about some 25-year-old journeyman, then the sequence of events that got Harrison cut would be unexcusable. So how can you catch the game on your preferred device? They will be playing 2 weeks from today in the AFC Playoff Game.

Seal accuses Oprah Winfrey of knowing about Weinstein's sexual behaviour
Referencing Jordan Peele's Golden Globe-nominated Get Out , he added, "You live in the Sunken Place". Recy Taylor died ten days ago, just shy of her 98th birthday.

Dallas County reports five more flu-related deaths, total now 23
H3N2 is one of the strains contained in this year's flu vaccine along with two or three others, depending on the vaccine. The shots will be distributed on a first-come basis, while supplies last, at its community clinics, officials said.

1 is Valero Energy Corp's (NYSE:VLO) Institutional Investor Sentiment
Ellington Mngmt Gru Limited Liability holds 0.31% of its portfolio in Valero Energy Corporation (NYSE:VLO) for 23,900 shares. Transamerica Financial Advisors Inc bought 23,666 shares as the company's stock declined 2.47% while stock markets rallied.

Panthers' Thomas Davis to retire after 2018 season
It's hard to imagine the Carolina Panthers without Thomas Davis , but fans of the team might have to get used to that thought. On Friday, Davis told the NFL Network's Brooke Cersosimo that 2018, his 14th season, would be his last.

Black Panther "Warriors of Wakanda" Featurette
Fandango says the first 24 hours of advanced ticket sales beat the sales for " Captain America: Civil War ", thus setting a new bar for Marvel.

The Pay Gap Between Mark Wahlberg and Michelle Williams
Of course, the most frustrating part of all is both Wahlberg and Williams are represented by the same agency, William Morris Endeavor.

ISD incoming termination rate cut to 30 paise from 53 paise
TRAI issued a consultation paper on "review of interconnection usage charges" on August 5, 2016, for seeking comments of industry stakeholders.

IndusInd Bank profit up 25 per cent in December quarter
Net NPAs were at 0.46% in the December quarter compared to 0.44% in the previous quarter and 0.39% in the same quarter past year . The net interest margin (NIM) was stable at 3.99% for quarter as against 4% in the corresponding quarter of the previous year.

Youth Arrested For Issuing Death Threat To Bihar CM Nitish Kumar
Earlier, RJD chief Lalu Yadav had alleged that the Yatra was a scam and Rs 10 Crore was spent by the public exchequer for Yatra. The Opposition condemned the attack, but said the CM introspect why he is facing protests from all corners.

Theresa May disagrees with Donald Trump's immigrant remarks
The one billion-dollar-edifice, overlooking the River Thames, was wholly funded by the sale of other properties in London. But the American presence has not been appreciated by the embassy's neighbors in recent years.

9 best-dressed stars at the 2018 Critics' Choice Awards
Brosnahan swapped her dark Globes look for a sparkly pink Zuhair Murad dress at the Critics' Choice Awards . RuPaul , Shark Tank, The Voice , and Born This Way took the top honours for Reality Television shows.

Steady Activities: Zoetis Inc. (ZTS), Occidental Petroleum Corporation (OXY)
Financial Architects Inc raised its position in shares of Occidental Petroleum Corporation by 47.5% in the third quarter. Moreover, Paragon Associates & Paragon Associates Ii Joint Venture has 4.11% invested in the company for 75,000 shares.

Ford Emissions Suit Codefendant Has Been Down This Road Before
Any persons or businesses in Canada who bought or leased one of the specified trucks can contact Siskinds LLP or Sotos LLP. The lawsuit is naming both Ford and supplier Robert Bosch GmbH of Germany as defendants.