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Strategies & Market Trends : John Pitera's Market Laboratory

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To: Jorj X Mckie who wrote (5927)	4/11/2002 7:12:44 AM
From: John Pitera	Read Replies (1) of 33421

China had some strong numbers yesterday.... While recent weakness in the Mexican peso has not been particularly convincing, we continue to focus on the downtrend in productivity growth that has forced a headline exodus of multinationals to China. Of interest, industrial production in China rose 10.9% year on year in the first quarter, up 2.4% from the fourth quarter. Perhaps even more importantly, production from foreign funded and joint ventures rose 10.5% year on year, up almost a half a percent from the fourth quarter. Not surprisingly, this dynamic highlights China's heightened emergence as a global production powerhouse via its low-cost base. CHINA NEWS China registered a trade surplus of $7.26 billion in the first three months of 2002, the Xinhua news agency said on Thursday. Following are comparative Chinese trade figures for the first three months of 2002 and for March alone (in billions of U.S. dollars): Q1 Q1 2002 March March 2002 yr/yr pct change yr/yr pct change Exports 64.66 + 9.9 23.82 + 3.4 Imports 57.40 + 5.2 22.51 + 8.5 Balance 7.26 +53.5 1.31 -44.7

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