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A recently released analysis by Dubai Chamber of Commerce and Industry indicates that the UAE and China have

developed a significant trading relationship over the years with both economies going through a fast economic development stage. Total trade reached $119.4bn between 1999 and 2009 and the UAE has expressed keen interest in strengthening the relationship by diversifying ties with the booming Chinese economy by investing in areas such as finance, real estate and construction. The analysis pointed out that trade between both the sides has mostly centered on base metals and related materials coming out of the UAE and cheap Chinese goods coming into the UAE. Meanwhile, trade between both countries reaches into a large array of other goods and services. Tthe UAE has run a trade deficit with China in recent years. Total export growth has been growing at an average of 37.9% between 1999 and 2009. On the other hand, total imports have been growing at a similar rate of 31.1% during the same period. An examination of trade by HS section portrays that UAE's exports to China have been mainly focused on mineral products, chemicals and allied industries, plastics and rubber products as well as base metals. In terms of imports, the UAE has received goods and services from China ranging from textiles, machinery and mechanical appliances, base metals and plastics and rubber products. The average annual growth by HS section over the period 1999 and 2009 suggests that, plastics and rubber products came in first for exports of the UAE to China at a rate of 77.0%, followed by vegetable products at a rate of 74.4%. In terms of imports, the strongest average annual growth rate by HS section was recorded for works of art and antiques at a rate of 44.1% and secondly by mineral products (23.2% rate of growth). The analysis further revealed that given the overwhelming level of trade between the UAE and China in recent years, it is clear that across the board, UAE businesses have benefitted from the UAE's strategic location, its cost and market advantages as well as its status as an international business hub in order to facilitate trade growth. The favourable business environment that the UAE has created over the years has meant both local and foreign businesses have been able to grow, expand and in-turn export their goods and services to the wider global economy. The capacity of the UAE to efficiently move goods and connect manufacturers and consumers with international markets globally has improved markedly over the years. The analysis also indicated that trade logistics performance is directly linked with positive externalities with other economic sectors as well as with trade expansion, the diversification of exports and overall economic growth will improve further in the years ahead, adding that it is clear therefore that with the expected easing in liquidity conditions along with the boost in market sentiment, exports and trade in general will continue to rise further amongst the business community in 2010.

China to overtake US as largest trading nation

Shipments within Asia-Pacific and expanded ties with Latin America, Mena to spur growth

Bloomberg Published: 00:00 February 22, 2012

Hong Kong: China will overtake the US as the world's largest trading nation by 2016, as intraAsian commerce and rising demand from emerging markets boost shipments, according to HSBC Holdings Plc. Trade in China and the Asia-Pacific will grow at an annualised pace almost twice as fast as the world average over the next five years, driven by shipments within the region and expanded ties with Latin America, the Middle East and North Africa (Mena), HSBC said in a global trade report issued yesterday. Demand from traditional consumer markets in the West is expected to slow as the evolving European debt crisis threatens the global outlook. China, the world's second-biggest economy, will stimulate growth with fiscal stimulus and an acceleration in infrastructure projects, raising its imports of commodities from Latin America and the Middle East, HSBC said. "The world's largest businesses are continuing to broaden their supply chains across AsiaPacific" that will boost trade within the region, Simon Constantinides, HSBC's regional head of global trade, Asia-Pacific, said. "As China expands its global reach, especially into South America and Africa, its substantial energy demand and higher manufacturing output will drive strong imports and exports within these sectors."
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Largest exporter HSBC estimates the value of China's trade will rise at an annualised rate of 6.6 per cent over the next five years, compared with 6.5 per cent gains for Asia and 3.8 per cent for the world, according to the report. China's share of global imports and exports will increase to 12.3 per cent in 2026 from 9.8 per cent last year, the bank estimates. The nation overtook Germany as the world's largest exporter in 2009

China strives to avert trade war

Beijing will import more luxury goods this year, but will not curb its own exports

Reuters Published: 00:00 March 2, 2012

Beijing: China will import more big ticket items and luxury goods this year to avoid a costly trade war, but will not curb its own exports, predicted a former Chinese trade official in an interview with Reuters. Tensions between China and its trade partners over issues from solar panel subsidies to airline emissions fees have intensified recently as the global economy slows, and US politicians sharpen their rhetoric ahead of a presidential election later this year. "We must prepare for a big trade war this year," said Wei Jianguo, a former vice commerce minister who is now a government adviser. "But since Chinese consumers demand Western cosmetics and handbags, why can't we greatly boost imports of such products?"
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Earlier this week, US President Barack Obama signed an executive order creating a new government team to enforce trade rules, a step widely seen as aimed at China, and senior lawmakers want to push a bill that would allow the US to impose duties on subsidised Chinese goods. Transition period China has largely remained quiet about the Obama administration's move to create the 50-60 person trade unit, suggesting its leaders hope to avoid a loud dispute with the United States in a year when China goes through its own sensitive leadership transition. As for Europe, Wei said China should cut import duties to encourage more purchases by China's affluent consumers, who enthusiastically buy Louis Vuitton handbags and Italian suits.

China, the world's largest exporter selling $1.9 trillion worth of products to overseas markets in 2011, often uses big orders for American products, from Boeing aircraft to soybeans, as a way of deflecting US anger over its huge trade deficit. It is also the biggest target for anti-dumping charges. Those cases increasingly come from emerging markets like India and Brazil, China's key export markets for the future. "Developed countries will target us. Our friends, emerging markets, will also target us," Wei said, speaking at the offices of the China Centre for International Economic Exchanges, a quasigovernmental think-tank. China's response to its trading partners' complaints is limited by its own domestic worries, Wei said. The Chinese government must continue to protect its exporters with all possible ways including keeping the yuan exchange rate relatively stable, he said. Support "The government must make a warm cotton quilt to help exporters weathering the harsh winter." Wei's comments do not represent Beijing's official stance. But Wei, also a member of the Chinese People's Political Consultative Conference, the country's top advisory body, is influential in policy-making. Chinese leaders are especially nervous about the fate of the export sector, one of the biggest domestic employers and key to preserving social stability. President Hu Jintao said in February that China must implement an "even more proactive" employment policy, showing Beijing's deep-seated worry. China's Ministry of Commerce is working out detailed measures to help the country's exporters after exports fell 0.5 per cent from a year ago in January.