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China Increases Trade with Emerging Economies

China saw fast increases in foreign trade with emerging economies and developing countries last year, shaping a better world trade layout, the country’s Ministry of Commerce (MOC) said on Thursday.

The ministry’s data showed that foreign trade between China and emerging economies and developing countries took a larger share in 2012, 6.2 percentage points more than the previous year.

Trade with Brazil, Russia, India and South Africa, all BRICS members, surged 188.5 percent, 83 percent, 72 percent and 327 percent, respectively, the MOC said.

China’s foreign trade also shifted around the domestic layout, with the country’s central and western regions taking 13.1 percent, 4.6 percentage points more than 2007, according to the MOC.

Meanwhile, China’s import and export of services maintained growth in 2012, with a year-on-year increase of 12.3 percent in the total volume to 470.58 billion U.S. dollars, ranking third in the world.

via Xinhua [1]

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Alfonso Esparza

Alfonso Esparza [6]

Senior Currency Analyst at Market Pulse [7]
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza
Alfonso Esparza

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