export led

A year ago, the boom was expected to be the means of breaking down the divide between China's domestic and export-led economies.

For Japan even more than Germany, the crisis has been a total disaster and the concept of export-led growth has been discredited.

Yet these countries mostly continue to think in terms of an export-led growth, which is no longer sustainable.

This is bad news for Asia's export-led economies at a time when their domestic consumption is still not enough to compensate for a US slump.

China has been trying to boost domestic demand after criticism of its export-led growth policy over the past years.

Germany, in the grip of a massive export slump, firmly believes it has no alternative to export-led growth.

Analysts said the country's export-led recovery appeared to be faltering as the value of the yen appreciates.

And if America were able to emulate the emerging economies' export-led growth, it would not need to borrow their industrial policies.

Japan used to see itself as the lead goose in a regional flight formation, showing the way to export-led prosperity.

Export-led developing Asia has been a big beneficiary of the surge in global demand and world trade over the past five-and-a-half years.

A strong yen could hurt Japan's export-led economy as it struggles with slow growth and the aftermath of the March earthquake and tsunami.

China's current inflation is a textbook case of prolonged undervaluation of a fixed exchange rate in tandem with export-led growth.

European manufacturing also grew more than estimated, powered by an export-led expansion in Germany, the region's largest economy.

The Indian software industry developed at great speed is characterized by an export-led and human capital intensive industry.

As for China, the requirement to adapt from export-led growth to a radical expansion of domestic demand could be a huge political challenge.

There is also new competition from Vietnam and others trying to follow China on the path of export-led growth.

Given the weakness of domestic demand under such a fiscal austerity programme, Italy will need export-led growth.

The Asians decided to choose competitive exchange rates, export-led growth and huge accumulations of foreign currency reserves.

The idea that China's growth is mainly export-led is not the only popular myth.

Unfortunately, export-led growth is already the policy of choice for China, Japan, Germany, Brazil and a host of other key economies.

To work, it requires that countries with huge trade surpluses reduce the export-led growth that fed the system's instabilities.

"The export sector is what created jobs, " he argues. "It's going to be difficult to get away from export-led growth. "

Beijing's growth model is still largely export-led and its main trade partner is the European Union.

In Europe, the UK saw benefits from an export-led rise in factory activity that pushed manufacturing output to its fastest pace since 1994.

Polish factories have become integral parts of the German supply chain, and they are profiting from Germany's export-led boom.

And Asia has accepted a lower standard of living in exchange for export-led growth and a lower risk of currency crises.

This, says Roach, was a "wake-up call for Beijing, " as well as for the export-led Asian region.

As global demand contracts, China's export-led, manufacturing-heavy economy is now facing a sharp downturn.

Furthermore, export-led growth also looks much less attractive in an era of consumer retrenchment in the rich countries.

Such harassment is one reason why few private economists reckon that the devaluation will stimulate export-led growth.

Not long thereafter, some East Asian economies began to zoom ahead based on "narrower" export-led growth.

But China's export-led development model will need to be adjusted as global trade and financial balances become more contentious.

China is addicted to a strategy of export-led growth, which requires that it keep its goods cheap.

the over-leveraging and under pricing of risk ". * Even those who are sceptical of this agree that the US needs export-led growth. "

Unless it comes up with a new source of demand to support its export-led growth model, Asia will face stiff and enduring headwinds.

The Asian countries recovered thanks to export-led growth. Now the whole world is in a mess.

In the absence of another housing bubble and consumer boom, an export-led recovery is the best growth strategy the US could employ.

Finally, emerging markets must proceed with care; export-led growth has stabilised their finances and built foreign exchange reserves.

Many Western officials see China's policy of export-led growth as the main cause of global trade imbalances.

China's worst abuse involves its undervalued currency and its promotion of export-led economic growth.

Leaving aside petro economies, the biggest are in countries pursuing export-led growth, often on the basis of undervalued exchange rates.

Like Japan before it, China embraced an investment-led and export-led economic model, explains economist Eswar Prasad of Cornell University.

REBOUND in export-led growth has unleashed a bull market all over South-East Asia.

High trade openness forces export sectors' unions to agree competitive wages in what some economists call "export-led wage-setting" .

A weak Taiwan dollar is favourable to policymakers in Taiwan, who worry that the island's export-led recovery remains fragile.

These days a revival in the fortunes of manufacturers is widely regarded as essential for a sustained export-led recovery.

He does not think the country can continue to rely on export-led growth for both geopolitical and economic reasons.

However great their political differences, Asian countries have not let these threaten their common pursuit of export-led growth.

They argue that Asian economies are pursuing a deliberate policy of currency undervaluation to ensure strong export-led growth.

He must respond that the US can close its fiscal deficit only if it can shift into export-led growth.

Long the most powerful driver of Chinese growth, there is now a considerable downside to an export-led impetus.

Countries instead largely shirked the challenge, content to rely on export-led growth by holding down their exchange rates.

As underscored above, China remains heavily dependent on externally supported export-led growth.

The current system is fueling over-investment and excessive reliance on export-led growth while underemphasizing domestic consumption.

But the popular notion that China is dependent on export-led growth is a myth; domestic demand is much more important.

Its problems were caused by a burst property bubble and can be solved, the Germans hope, by export-led growth.

If the American economy buckles, Germany's export-led growth could quickly fade.

Until another generation has passed, and China itself has grown rich, export-led industrial growth will be hard for anyone to achieve.

WSJ: How difficult will it be for China to make a shift away from export-led growth?

Asia's export-led economies have been hurt by the collapse in global demand.

This is no surprise for an export-led economy dependent on faltering global demand.

They know that the export-led Chinese growth model is not sustainable in the long term.

Japan rose from the ashes of World War II as a "trading state, " the model for export-led growth.

Engineering a shift towards domestic demand and moving from an over-reliance on export-led growth represents the first rebalancing.

Today more balance-sheets need repair, the prospects for export-led growth are dimmer, and the increases in public debt will be broader.

Mr Obama's support for free trade remains lukewarm, a failing that could yet undermine hopes for export-led growth.

The current Chinese economic expansion is evidently both investment- and export-led.

An important part of this strategy is attracting foreign investment and know-how to assist China's export-led growth.

Until the 1980s, Japan depended on export-led growth that created jobs and investment. An undervalued yen helped.

Others called it "export-led growth" or depicted it as a system of self-insurance.

The virtuous circle of low labour costs, foreign investment and export-led growth is outdated too.

China's leaders recognize these risks, including the continued dependence of China and other emerging economies on export-led growth.

The first phase of China's development strategy has been defined by the classic export-led model of economic development.

Still, it might not be all bad for Asia's export-led economies, says Goldman Sachs.

Third, the best way to ease the pain of deleveraging is with an export-led boom.

The manufacturing export-led economies in the developing world fared worse.

And this devaluation worked: from 2003 onward, Argentina experienced a rapid export-led economic rebound.

Export-led China is paying a steep price for failing to heed the premier's all-too-prescient warning.

But it will be a huge challenge, unless one can rely on fast export-led growth.

Its export-led growth model means when trade implodes, as at present, it is importing unemployment.

One often mentioned route is the East Asian model of export-led manufacturing.

The shortage of labor force in the southeast coast area has close relevance with the export-led growth model based on low-cost advantage.

But far too many countries are relying on export-led growth as the way to balance their withdrawal of domestic stimulus.

Japan watched in alarm as a rising yen (chart 5) threatened its export-led recovery.

The first of these is that Italy is an export-led economy like Germany.

For China, there will be more industrial development in poorer inland provinces and less emphasis on export-led growth.

But this time the export-led recovery has been slow in coming.

There is no sign of an export-led recovery with productive industries falling by 1. 4%.

Export-led growth is the other under-explored channel of recovery.

The era of export-led growth, the era of growth fed by gigantic trade surpluses, cannot last in the world we are now entering.

The Asian countries recovered thanks to export-led growth.

China had built its export-led economy on domestic bank loans instead.

The critical question that China must now address is whether it can stay the course of export-led growth in a post-crisis world.

On the one hand, an overvalued currency would make the transition from an export-led strategy abrupt and painful.

"The export-led model has outlived its usefulness. "

China and other producers upped the ante on their export-led impetus to economic growth.

Critics of China's "export-led growth" confuse two ideas.

Another is over-reliance on export-led growth.

The export-led economy was in recession.

That is so because there's no such thing as "export-led growth, " let alone "predatory trade. "

The export-led economies of Asia have most to fear.

But so does its addiction to export-led growth.

S. China is too big to rely on export-led growth.

A leader who suggests otherwise is naive, especially one who is responsible for an open economy and has bet the farm on export-led growth.

As China's experience suggests, keeping the exchange rate weak in support of export-led growth becomes harder to sustain over time.

China's capital intensive export led growth model has served it very well.

Myth No. 1: China's economy is export-led.

They do this primarily because that is a way that can prolong their export-led growth.

Export-led growth model emphasizes the economic growth of developing countries depend on export expansion, a view that demand for start-up.

America relies on China to finance its trade deficit, while China needs the US to buy its goods in order to keep export-led growth on track.

China still practises export-led growth, a strategy that has served other developing countries well.

Except as a job creator, export-led growth doesn't make much sense.

At that time Japan's export-led growth thrust was in trouble.

this export - led growth has resulted in surging current account surpluses , and is a major source of tension among asia s trading partners

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