China sees an increase in domestic costs and a slowdown in overseas demand putting ¡°severe¡± pressure on its exports next year, a sign that policy makers may have little appetite to allow faster gains in the yuan.
Premier Wen Jiabao¡¯s embrace of higher wages, along with a jump in land and raw-materials prices and a stronger yuan are restraining shipments, the Commerce Ministry said Wednesday. While the nation can achieve export gains as long as Europe¡¯s crisis doesn¡¯t deepen, it will need to focus on strengthening links with emerging markets, Wang Shouwen, head of the foreign trade department, told reporters in Beijing.
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