China's manufacturing to prevent next recession?

Posted By:
Subscribe to Oneindia News
China-US flag
Washington, Sep 2: China's growth in manufacturing trade increased hopes that it will provide support to US exports and help sustain the US economic recovery to deal another recession.

World's second-largest economy, China has been growing at a robust pace in 2010.

Two surveys of the Chinese economy released on Tuesday, Aug 31 proved that production, new orders and purchasing prices all lifted in Aug 2010.

Sizzling growth in China could help boost the struggling US economy, which expanded at a meager 1.6 percent rate in the Apr-Jun quarter in 2010.

However, according to the American manufacturers, US exports would be much higher if it were not for China's refusal to allow its currency to rise in value against the dollar.

The decision has made US exports more expensive in China, and Chinese imports cheaper in the US.

An independent research firm's official in China said, "China is really the global driver of growth right now. We need to realize that is the case."

OneIndia News

Please Wait while comments are loading...