Global trade collapsing as U.S. exports falling at 49% pace


	Global trade collapsing as U.S. exports falling at 49% pace

rmowery

3-16-2009 11:02 PM

169 views

tags:

economy, exports, us, world economy

rmowery says:

Wow! 20 million in China that are out of work!

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/f5d0d5be-1a37-4f78-a70f-b5c816145500/05F07AC7-72F9-40C4-BC3E-E5182F651836/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.marketwatch.com/news/story/Global-trade-collapsing-forcing-everyone/story.aspx?guid=%7b5E877CF4-8D66-46A2-A144-3EE1FF6F6C37%7d" href="http://www.marketwatch.com/news/story/Global-trade-collapsing-forcing-everyone/story.aspx?guid=%7b5E877CF4-8D66-46A2-A144-3EE1FF6F6C37%7d" style="font-size: 11px;">www.marketwatch.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.marketwatch.com/news/story/Global-trade-collapsing-forcing-everyone/story.aspx?guid=%7b5E877CF4-8D66-46A2-A144-3EE1FF6F6C37%7d"><H1 class="storytitle" id="StoryContent_TopPageNavigation_Headline">Global trade collapsing</H1>
            <H2 class="storytitle" id="StoryContent_TopPageNavigation_Headline2">Commentary: U.S. exports falling at 49% pace as customers fade away</H2></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.marketwatch.com/news/story/Global-trade-collapsing-forcing-everyone/story.aspx?guid=%7b5E877CF4-8D66-46A2-A144-3EE1FF6F6C37%7d"><DIV class="p">No one is saying that any more.
          </DIV>
<DIV class="p">
              In fact, the latest evidence shows that global trade flows are plunging at an alarming rate.
          </DIV>
<DIV class="p">
              The Commerce Department reported that the volume of U.S. imports from abroad fell 4.6% in January while exports declined 8.6%, the most since the monthly trade figures were first collected in 1992.   <A href="http://www.marketwatch.com/News/Story/us-trade-gap-narrows-6-year/story.aspx?guid=%7B6140AACD%2D8FD5%2D42BF%2DAB9B%2DF9FCF62D13ED%7D" class="lk001">See full story.</A>
          </DIV>
<DIV class="p">
              Over the past five months since the credit crunch intensified, real exports have plunged at a 49% annual rate, while real imports have fallen at a 30% pace. 
          </DIV>
<DIV class="p">
              The pace of the decline is unprecedented in modern times, economists say. "We doubt even during the Great Depression that trade collapsed with such ferocity," said David Greenlaw, an economist for Morgan Stanley.
          </DIV></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/05F07AC7-72F9-40C4-BC3E-E5182F651836/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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