China could be in for a double dip in the recessionary cycle.

[GoFlyKiteNow]

Exports still in pre-crisis levels in China
Sunday 7th March, 2010

China could be in for a double dip in the recessionary cycle.

China’s commerce minister Chen Deming has predicted it will take around three years for exports to return to pre-crisis levels.

Chen has told colleagues at the National People's Congress annual parliamentary session that the country will need the time to allow world demand to catch up.

He said the world economy was on a shaky footing with many uncertainties in foreign trade.

He also suggested China could be in for a double dip in the recessionary cycle, creating a second recession before it had fully recovered from the first.

Political leaders in China have called for more domestic consumption to lessen the economy's reliance on exports.
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[zuoom]

how is it possible to up consumption so fast?

i recall so many of the mega factories that does 100% export.
local demand is almost non existent for many of the products that "factory of the world" produce.

3 years? hmm.. but then again, modern China came about in record time. just imagine in the early/mid 90s, streets of Beijing was mostly bicycles. but early/mid 00s, it's a whole new city literally. what took the rest of the world 30 years, they took 10. using a similiar ratio, that's 9 years into the future. if so, they are in good hands, driving seat.