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  • » 01/13/2017, 13.24

    CHINA

    As Chinese exports drop in December, all eyes are on Trump



    In 2016, Chinese exports fell by 7.7 per cent, the worst decline since 2009. With Trump’s victory, the yuan weakened to its lowest level since 2009.

    Beijing (AsiaNews) – China's exports slumped more than expected in December as global trade remained sluggish. Imports also cooled.

    Overall, exports dropped by 6.1 percent on-year, against a 0.1 per cent increase in the previous month.

    December's trade balance stood at US$ 40.82 billion, compared to US$ 44.61 billion in November.

    Last year, exports declined by 7.7 per cent on-year, the worst drop since 2009, according to Reuters. Imports declined as well, by 5.5 per cent.

    Still, the world's second-largest economy was left with a 2016 trade surplus of US$ 509.96 billion.

    However, rising costs and weakening advantages in low-end sectors will hinder China's foreign trade performance this year.

    Following Donald Trump's election, the yuan dropped to its lowest level since January 2009, amid renewed strength in the dollar.

    A weaker currency makes Chinese products more attractive in overseas markets, and the recent plunge helped explain November's strong export performance.

    Yet, for Reuters if Trump unveils protectionist measures, China's export growth will be limited.

    Regardless, global protectionism is on the rise and will enhance trade risks.

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    EGYPT – VATICAN
    Pope in Egypt: Egypt called to condemn violence and poverty in the Middle East



    In his address to Egyptian authorities, Francis stressed Egypt’s role and responsibility in the future of the region. "In the fragile and complex situation of today’s world, which I have described as ‘a world war being fought piecemeal’, it needs to be clearly stated that no civilized society can be built without repudiating every ideology of evil, violence and extremism that presumes to suppress others and to annihilate diversity by manipulating and profaning the Sacred Name of God.”


    ISLAM – VATICAN – EGYPT
    A Muslim writes to the pope: Dear Pope Francis . . .

    Kamel Abderrahmani

    He admires the charity shown by the pontiff towards Syrian Muslim refugees, and his push in favour of love and against hatred. Islamic scholars are not like this, he says, they do not denounce Daesh’s hatred and do nothing for Christians. He calls on the pontiff to press President to Sisi and Al Azhar to reform Islam. Without this Al Azhar risks being the academy of world fundamentalism. Here is the letter from our friend and collaborator Kamel Abderrahmani.


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