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Japan-China trade soars 34% to record $60 bil

 

(Kyodo News)

 

Wednesday, August 13, 2003 at 07:35 JST

 

TOKYO ? The value of Japan-China two-way trade in the January-June period surged 34% over a year earlier to a record $60 billion, breaking a record for a fourth consecutive first-half period, according to the Foreign Ministry and government statistics.

 

The rise came despite the outbreak of severe acute respiratory syndrome (SARS) in China in November last year.

 

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While USD 60 billion is not a particularly large number in the scheme of things, I suggest if this rate of trade growth continues it will have some longer term implications for the USD as the reserve currency.

Many many things are going to have an impact on the dollar as reserve currency. Most countries are imaging ways to avoid having to chew their own arms off to escape the dollar reserve trap as we type.

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From Briefing.com

 

It is not all good news. After the close yesterday, Applied Materials (AMAT 18.45) reported operating earnings of 5 cents a share. That was a penny ahead of expectations, but represented a decline from a profit of 7 cents in the same quarter last year on a whopping revenue decline of 25%. Worse, they said that revenue and profits next quarter will be below current expectations. There just hasn't been enough of a sign of a pickup in demand that justifies the run the stock has had. It is still trading on pure hope.

 

Trading on pure hope pretty much sums up the whole market.

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Guest libertas
I do not care what the overpaid shill @ amat has to say, the earnings were a disaster! Perhaps maria will ask why anyone would want to pay north of 100 times earnings for a company that loses money?

Huh?

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