China has benefited from world trade continuously since May 2004. The country's official figures indicate. But this era of enrichment through international trade could be coming to an end. The Chinese Minister of Commerce Chen Deming has launched a warning about a "risk of a trade deficit in March" on Sunday in a speech denouncing the pressure from the United States for a revaluation of the yuan.
A negative trade balance would mark a break with a trend that has dominated for six years, but also a particularly violent reversal. In February, China had in fact reported a trade surplus of 7.61 billion dollars, up 57.2% annualized rate payday loans for bad credit !!!???!!!?? ?!!!.In other words it s'agfirait an abrupt end.
The Chinese Minister of Commerce said the Commercial deficit is expected in March could reach a record level.
This deficit is suddenly generated mainly by a surge in imports, as trade minister. However, in February, foreign purchases of handbags luxury, high technology products and coal imports had risen sharply, then rising by 44.7% yoy, reaching 86.9 and billion. This increase, however, did not reverse the balance of the Chinese trade surplus.
Observed by the whole world, the trial Rio Tinto, which opens Monday in Shanghai, is the culmination of nearly a year of trade tensions between China and the mining giant Anglo-Australian Rio Tinto. This will also be a political test for Beijing, which has promised transparency.
Four employees of Rio Tinto appear from Monday for "corruption" and "theft of trade secrets": the Australian Stern Hu, head of the Shanghai office of Rio Tinto, and three of his Chinese collaborators. Upon their arrest in July 2009 in Shanghai, they were accused of stealing state secrets, that is to say, highly sensitive information on China's position at the negotiating table on ore prices iron.
Since the beginning of the Rio Tinto trade negotiations and lawsuits strangely coincide.The arrest of Hu Stern and his staff intervened when the negotiations on the price of iron ore were being ruined and one month after the rejection by shareholders of Rio Tinto increased participation of the giant China's Chinalco aluminum in the group's capital.
Partnerships in Africa
Earlier this year, announcing the end of the investigation fell when the price negotiations for the year 2010-2011 debuted without China. Like every year, the big mining groups that dominate the global market – Rio Tinto, both Anglo-Australian BHP Billiton and Brazil's Vale – agree with their key buyers – Japan, China, Europe – a price for the year starting April 1.But the mining groups have decided this time to discuss first with their Japanese buyers.
Last year, Chinese steelmakers were on a very firm position. No agreement had been reached. Steelmakers had ended up paying the market price, 80% over prices negotiated. This year, the talks heated still ahead. Miners might seek to secure increases of 50% to 90%, according to sources. Higher difficult to accept for the Chinese steelmakers.
But Rio Tinto hopes to continue its business in a country that became the main destination of its exports last year, with 24.3% of sales. The Anglo-Australian multiplies friendly gestures. A new head for China and was appointed last month. The choice of Ian Bauert is not trivial.This sinophile and sinophone was created in mid 1980 the first office of Rio Tinto Republic. For his part, Tom Albanese, CEO of the group, arrived in Beijing Sunday to attend an economic forum.
Last week, his company signed a partnership with the giant Chinese aluminum, Chinalco, for an investment in a mine in Guinea. According to the Australian press, discussions are also underway for projects in Mongolia and Australia.
