CHINA-US: ECONOMIC
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Figures released in April by the US Trade Representative (USTR) in its '2014 National Trade Estimate' reveal that U.S. trade with China fell sharply in February. U.S. exports to China declined by 4.6 percent while imports from China dropped 19.5 percent over January 2014 to $30.4 billion. The U.S. trade deficit in goods with China totalled $21 billion in February, a 25 percent fall from the January deficit, and an 11 percent decline year-on-year. China's exports dropped 18 per cent in February year-on-year in the worst drop since August 2009. The USTR assessed that stimulus measures are on the way and pointed to a statement released on March 19 after the annual NPC meeting, where China's State Council said that the nation will “seize the moment to roll out already-determined measures in expanding domestic demand and stabilizing growth” and will “accelerate preliminary work and construction on key investment projects with timely assignment of budgeted funds.” The USTR added that a central focus of infrastructure investment is the rail sector and that the government had in early March approved five railway projects projected to cost a total of RMB 142 billion ($22.8 billion).
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