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Export growth to slow
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Song Yingwen
THOUGH the city saw a continuous increase in export volume in the first quarter of 2001 with an accumulated total of US$8 billion, experts are forecasting a slowdown in the growth rate compared with that of the same time last year.
"We are not optimistic about the prospect of export growth this year. The situation is as critical as it was in 1998 when Asia was suffering from an economic crisis," Liu Guangqi, deputy director of the SZ Municipal Trade Development Bureau, said yesterday.
Such a conclusion can be attributed to the influence of the global economic environment, especially the US economy, where a recession is widely expected
this year after a record 10-year run of consistent growth. The decrease in market demand for electronic products, which account for one-third of SZ's total exports, is also attributed to the decrease in growth.
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