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Tuesday, January 13, 2009

Chinese Exports Plunge

Bloomberg reports:

Threats to the world economy are already building. Chinese central bank governor Zhou Xiaochuan said Jan. 12 that there are downside risks to the government’s 8 percent growth target for this year. Chinese exports fell for the first time in seven years in November, imports plunged and industrial output gained the least in almost a decade. Economic growth may slow to 7.5 percent this year, the World Bank estimates.