Shift from exports isn’t happening: economist
China’s manufactured exports in 2013 dwarfed the US’s by 83 percent, which shows the country remains far from reaching its goal of growing through domestic consumption and reducing reliance on exports came, according to a new report.
The figures, contained in a report by Ernie Preeg, an economist with the Manufacturers Alliance for Productivity and Innovation, a Virginia-based industry think-tank, put China on track to double the US in manufactured exports in three years.
The shift to a consumptionbased economy “isn’t happening—at least, it didn’t happen in 2013,” Preeg told China Daily in an interviews. “For 2013, all the talk about shifting away from exports, they were still booming away.”