Japan’s automobile production fell 6. 3 percent in January from a year earlier, marking the fourth consecutive month of decline, the Japan Automobile Manufacturing Association (JAMA) said in a report on Monday.
Automobile production in January totaled 706,107 units, down from the 753,734 units total production logged in the same month a year earlier, JAMA said.
January’s decline follows a 5.1 percent fall the previous month and a 6.7 percent contraction logged in November, the industry body said.
Manufacturing of passenger cars fell 7.2 percent to 609,598 units, while truck production dipped 2.1 percent to 87,830 units to mark the second straight month of decrease. The production of buses however, increased 17.2 percent to 8,679 units, marking the fourth straight month of increase, JAMA said.
The association also noted that domestic sales of automobiles in Japan dropped 16.7 percent year-on-year in January to 305,500 units sold.
JAMA highlighted that the domestic sales figures were in stark contrast to figures showing that auto exports increased in the recording period by 7.3 percent in comparison with the same month of the previous year.
&$&$Source:Xinhua&$&$
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Japan’s auto output falls 6.3% on year in Jan.
After keeping its currency tightly linked to the US dollar for years, China in July 2005 revalued its currency by 2 % against the US dollar and moved to an exchange rate system that references a basket of currencies.
In 2009, the global economic downturn reduced foreign demand for Chinese exports for the first time in many years.
China has emphasized raising personal income and consumption and introducing new management systems to help increase productivity.
The restructuring of the economy and resulting efficiency gains have contributed to a more than tenfold increase in GDP since 1978.
China is the world’s largest producer of rice and is among the principal sources of wheat, corn (maize), tobacco, soybeans, peanuts (groundnuts), and cotton.
A report by UBS in 2009 concluded that China has experienced total factor productivity growth of 4 per cent per year since 1990, one of the fastest improvements in world economic history.
Over the years, large subsidies were built into the price structure, and these subsidies grew substantially in the late 1970s and 1980s.
On top of this, foreign direct investment (FDI) this year was set to “surpass $100 billion”, compared to $90 billion last year, ministry officials predicted.
“The growth rate (for ODI) in the next few years will be much higher than previous years,” Shen said, without elaborating.
China is expected to have 200 million cars on the road by 2020, increasing pressure on energy security and the environment, government officials said yesterday.
China’s challenge in the early 21st century will be to balance its highly centralized political system with an increasingly decentralized economic system.
Despite initial gains in farmers’ incomes in the early 1980s, taxes and fees have increasingly made farming an unprofitable occupation, and because the state owns all land farmers have at times been easily evicted when croplands are sought by developers.
In terms of cash crops, China ranks first in cotton and tobacco and is an important producer of oilseeds, silk, tea, ramie, jute, hemp, sugarcane, and sugar beets.
Horses, donkeys, and mules are work animals in the north, while oxen and water buffalo are used for plowing chiefly in the south.
There are also extensive iron-ore deposits; the largest mines are at Anshan and Benxi, in Liaoning province.
Alumina is found in many parts of the country; China is one of world’s largest producers of aluminum.
Coal is the single most important energy source in China; coal-fired thermal electric generators provide over 70% of the country’s electric power.
Before 1945, heavy industry was concentrated in the northeast (Manchuria), but important centers were subsequently established in other parts of the country, notably in Shanghai and Wuhan.
