Chinese cheap commodities help decrease inflation in the world

02/05/2007 12:00 - 1082 Views

United Nation Economic Social Committee of AsiaPacific (UNESCAP) has announced its report on area economy in 2007 in whichthey gave a comment that Chinese cheap commodities help decrease inflation inthe world.

According to that report, in the period from 2001 to2005 Chinese exports helped America reduce 0.28 point percent ofinflation and 0.37 point percent for EU and 0.65 point percent for Japan.

Chinese cheap exporting commodities include toys,which account for 90% the world export market share, garments and textileproducts with 16% market share, and electronic consumption goods in general.

Whereas Western economies, especially America - the most importantpartner of China - always complain Chinese tradesurplus.

These countries do not stop worrying, criticizingand claim one of the biggest reasons is that Chinese Government has intentionallykept yuan undervalued, which makes it is easier for Chinese exporters becausethey have a clear competition of price in comparison with other competitors inAmerica market.

Nhat Vy (According to Xinhua, AP, CNN)

03/05/2007

Source: vietnamnet