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Chinese exports solid in October as Covid eases overseas
by AFP Staff Writers
Shanghai (AFP) Nov 7, 2021

China's exports rose by a better-than-expected clip in October, official data showed on Sunday, with demand strengthening in some key markets such as the United States and Covid numbers easing overseas.

The data from the world's second-largest economy also suggested that Chinese factories had kept the goods flowing out despite power outages in recent months caused by emission reduction targets, the surging price of coal, and supply shortages.

The government said last week that the power crisis was winding down thanks to a boost in domestic coal output.

Exports rose a better-than-expected 27.1 percent on-year in October, according to customs authorities, to $300.2 billion.

Imports came in slightly below analyst estimates, rising 20.6 percent in October.

In recent months, several Chinese factories were forced to halt operations due to power outages, raising concerns about global supply chains.

The squeeze had worsened as China's Covid-19 border restrictions hindered shipments of raw materials from overseas while a trade tiff with Australia exacerbated the drop in coal imports.


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TRADE WARS
Myanmar jade traders squeezed between junta and rebels
Mandalay, Myanmar (AFP) Nov 5, 2021
Myanmar jade traders are running from junta troops and dodging rebel attacks to sell dwindling volumes of the green gemstone, as the billion-dollar industry loses its shine months on from the coup. The Southeast Asian country has been mired in chaos since the February putsch, with the military trying to crush widespread democracy protests and the economy in crisis. Fighting around the Hpakant jade mine in northern Kachin state - the largest in the world - has squeezed digging already hampered ... read more

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