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China is one of the biggest importers and the top export market for many of its Asian neighbors and commodity suppliers as far away as Australia and Africa, which means cooling demand could have global repercussions. The International Monetary Fund is forecasting 8.2 percent growth this year but has warned that could fall by as much as half if Europe, China's biggest export market, suffers a severe decline in activity due to its debt woes. Exports to the 27-nation European Union contracted by 1.1 percent in February from a year earlier to $19.4 billion, the General Administration of Customs of China reported. China's trade surplus with Europe contracted by 79 percent to $1.6 billion. Despite the surge in imports, China's politically sensitive trade surplus with the United States rose by 1 percent to $8.1 billion. ___ Online: General Administration of Customs of China:
http://www.customs.gov.cn/
[Associated
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