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Euro crisis affects China's exports

06-08-2010 11:47 BJT Special Report: Europe's Debt Crisis |

China's exports may be influenced by the European sovereign debt crisis, as it spreads to five south European countries including Spain and Hungary. The five countries' economies stand up one third of the euro zone economy.

As these countries cut welfare spending and lower wage levels it's highly likely China's exports will be influenced. According to analysts, if the euro depreciates one percent against the US dollar, the growth of China's exports will slow down by more than half a percent.

And if the EU's economy is down by one percent, the growth of China's exports will decrease by 6 percent. At the same time, the euro crisis may lead to the euro's depreciation against the US dollar and Chinese yuan. This will also put pressure on China's export enterprises.

Editor:Zhang Jingya |Source: CCTV.com

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