Asian exports from China soared at the end of last year suggesting that Chinese demand is emerging as a stronger than expected engine of economic recovery in the region.
The biggest jump came in:
South Korea, which said December exports to China jumped 94% compared with the same month a year ago.Taiwan reported a 91.2% jump in the value of shipments for December.Malaysia said exports jumped 52.9% in November from a year earlier.
Economists said it was becoming clear that China’s strong economic growth in 2009 had generated much stronger consumer demand than forecast.
Financial Times reported Tim Condon, Asia chief economist at ING in Singapore as saying, “Everybody seems to be booming. I think the trend is likely to continue into the first half of 2010. I don’t really see anything stopping it.” Our illustration shows containers ready for shipping.