. Military Space News .
TRADE WARS
China trade growth 'unsustainable' if virus not controlled: minister
by Staff Writers
Beijing (AFP) May 20, 2020

A recovery in China's trade growth is not sustainable unless the coronavirus pandemic is brought under control globally, the minister of industry and information technology warned Wednesday.

China's exports saw a surprise increase in April, partly because of rising medical product shipments, as production resumed after months of closures to control the outbreak, while imports and exports fell less than expected in renminbi terms during the first four months.

But Miao Wei told a news conference that "although our imports and exports in renminbi terms from January to April have increased moderately, I think that if the global pandemic cannot come under effective control, this is unsustainable".

To drive economic growth, the country will "rapidly activate domestic demand" to make up for weakness in the international markets, he said.

China had already been trying to boost consumption as a key driver of domestic growth in a drive to recalibrate the economy from one driven by exports and state investment.

Miao also said companies have experienced a fall in production since work resumed because of falling demand after governments went into lockdown to contain the spread of the disease, effectively strangling their economies.

China's key markets have been reeling from the virus fallout, with more than 30 million jobs destroyed in the United States, where the Treasury Secretary has warned of "permanent damage" to the economy if strict stay-at-home measures are not lifted soon enough.

Asked about the possibility that firms have to stop work again after resuming production, Miao said the "general policy direction is still to... use domestic demand and consumption to drive economic growth".

He believes there remains scope for the industrial economy to continue recovering in the second quarter, and said if the pandemic comes under control performance will be better in the second half of 2020.

While a recent survey by Chinese authorities showed some 40 percent of foreign-funded enterprises plan to step up investment in China in the near term, according to Miao, firms engaged in foreign trade have been hit particularly hard during the pandemic.

China plans to "introduce more targeted policies" to help smaller firms, he said.


Related Links
Global Trade News


Thanks for being here;
We need your help. The Space Media Network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceMediaNetwork Contributor
$5 Billed Once


credit card or paypal
SpaceMediaNetwork Monthly Supporter
$5 Billed Monthly


paypal only


TRADE WARS
German firms plan charter flight to send staff back to China
Beijing (AFP) May 13, 2020
German firms plan to charter a flight to China this month, business leaders said Wednesday, as Beijing appears ready to further ease a ban on foreigners imposed over coronavirus fears. The idea is to eventually extend a similar plan to other European countries, Joerg Wuttke, president of the EU Chamber in China, told AFP. Talks are under way for "a fast-track procedure" allowing employees of German companies to re-enter China on the special flight, said Jens Hildebrandt, executive director for t ... read more

Comment using your Disqus, Facebook, Google or Twitter login.



Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

TRADE WARS
Boeing awarded $128.5M modification to GMD missile upgrade contract

US pulling Patriot missile batteries from Saudi

Northrop Grumman and Raytheon Missiles and Defense Partner on Next Generation Interceptor

US Army awards $6B contract to Lockheed Martin for PAC-3 MSE production

TRADE WARS
Javelin JV completes the first F-Model missile

Raytheon nabs $19M for RAM missiles, GMLS launchers

Lockheed completes final test of Precision Strike Missile for Army

Northrop Grumman's Advanced Anti-Radiation Guided Missile continues to protect the US Navy

TRADE WARS
Northrop Grumman supports government flight testing of the MQ-8C Fire Scout Radar

FLIR to supply Black Hornet Nano-UAV Systems for US Army's Soldier Borne Sensor Program

Textron nabs $20.7M contract modification for Navy drone program

Elbit Systems Introduces a UAS-Based Long-Range Maritime Rescue Capability

TRADE WARS
IBCS Goes Agile

Northrop Grumman to rapidly develop net-centric gateway

Dominate the electromagnetic spectrum

L3Harris Technologies awarded third LRIP order on US Army's HMS Manpack IDIQ contract

TRADE WARS
Prior COVID-19 diagnosis a disqualification for U.S. military service

Novel research speeds up threat detection, prevention for Army missions

21 SW enlisted keep critical USSF asset training churning during worldwide pandemic

FN America, Colt's awarded $383.3M to make M16A4s for Iraq, others

TRADE WARS
Air Force awards $350M in contracts for road work at Alaska military bases

ARC Group nabs $7.2B DoD contract for moving services

Pentagon boosting US industrial capacity amid virus outbreak

Germany and France to develop joint next-generation army tank

TRADE WARS
Russia, China boycott UN Security Council meeting on Syria

India, China in high-altitude fistfight at disputed border

Two Chinese vessels chase Japanese fishing boat near disputed islets

China says Japanese fishing boat near disputed islands was illegal

TRADE WARS
Transporting energy through a single molecular nanowire

To make an atom-sized machine, you need a quantum mechanic

Magnetic nanoparticles help researchers remotely release adrenal hormones

New DNA origami motor breaks speed record for nano machines









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.