China 'overtakes Germany as world's largest exporter' -BBC News
China's exports rose 17.7% in December, state media has reported, suggesting the country has overtaken Germany as the world's largest exporter.
Fear of the Dragon -Economist
China takes an even bigger slice of America’s market. In the first ten months of 2009 America imported 15% less from China than in the same period of 2008, but its imports from the rest of the world fell by 33%, lifting China’s market share to a record 19%. So although America’s trade deficit with China narrowed, China now accounts for almost half of America’s total deficit, up from less than one-third in 2008.
US Slaps Tariff on China; Gold Price Jumps -Seeking Alpha
Back in September, I wrote a commentary in which I linked U.S. tariffs against Chinese pipe imports to the surge in the price of gold (“Has Trade-War Started Between U.S. and China?”). At that time, gold had just (impressively) broken above $1000/oz – smashing through resistance levels which had restrained it for most of the year. Days later the U.S. announced large duties against those Chinese imports.
Skip ahead four months. Gold started the year marching higher, and on Tuesday, January 5th the U.S. announced additional duties on those Chinese steel products. In this game of tit-for-tat, it is difficult to say which of the two parties is instigating these actions and which is “retaliating”. The causality issue is especially difficult in this situation since applying duties is a process which takes many weeks – and certainly the Chinese government would have been aware of “rumblings” that additional, punitive duties would be applied. On the other hand, pushing up the price of gold (and silver) through buying-up supplies is a tactic which can be commenced instantaneously.