World should brace for impact of rising Chinese exports, report warns
Changes in the trade balance could have a knock-on effect on other countries
Responding to an increasingly pressing array of financial issues, Chinese authorities are likely to have to devalue the renminbi and boost exports, which could have a serious impact on the rest of the world, a report by Smithers & Co has warned.
China's economy has been claiming an ever greater proportion of world output in recent years, to the point where nearly 25% of global GDP is produced in China. With the Chinese economy still geared for exports, changes in the trade balance can thus have
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