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Taiwan, a major supplier of electronic components to Chinese factories, has seen exports decline for four months, including a 3.2 percent contraction in June. Exports to China fell 1.6 percent in June. The communist Beijing government has set a target of 10 percent trade growth this year but analysts say growth could be as low as zero. Tuesday's data showed exports for the first half up 9.2 percent over a year earlier. June exports totaled $180.2 billion while imports were $148.5 billion. The country's diplomatically sensitive global trade surplus widened by 43 percent over a year ago to $31.7 billion, the highest level so far this year. China's trade surplus with the 27-nation European Union, its biggest trading partner, was even with a year earlier at $12.8 billion. The surplus with the United States widened by 8 percent to $20.7 billion. Beijing spent two years tightening lending and investment curbs to steer rapid economic growth to a more sustainable level. It reversed course last year after global demand plunged but is moving cautiously after its huge stimulus in response to the 2008 crisis fueled inflation and a wasteful building boom. The government has promised more bank lending to the private sector but says it will enforce controls meant to prevent easier credit from setting off a new round of stock and real estate speculation. Last weekend, Wen ordered local officials to enforce controls imposed on real estate purchases to cool surging housing costs. He said people caught trying to evade them would be punished. "The pace of policy easing will pick up in the near term," said Nomura economist Zhiwei Zhang. "If the effects of policy easing fail to materialize quickly in July and August, downside risks" in the second half of the year "will increase."
[Associated
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