Shift from ex­ports isn’t hap­pen­ing: econ­o­mist

China Daily (Canada) - - NEWSCAPSULE -

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.”

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