A slight devaluation would solve any remaining problem with export demand.

With domestic demand still weak, more export demand is just what the doctor ordered for an anemic economy.

This is no surprise for an export led economy dependent on faltering global demand.

Or an undervalued exchange rate can help to export the lack of domestic demand.

Domestic demand led growth will be a more reliable strategy than export led growth.

To escape the crisis, Germany used rapid export growth especially to meet voracious Chinese demand.

They demonstrate clearly that China is prepared to compensate for export weakness by stimulating domestic demand.

As a result, in US dollar terms, import demand grew by 38.7 , outpacing export growth of 31 .

Meanwhile, the faltering European economy and slowing GDP growth in China and elsewhere are impeding export demand.

But the strengthening euro reduces both import prices and export demand, which, in itself, causes prices to fall .

In the longer run, that gap needs to be filled by higher foreign demand and increased export potential.

When such demand falters, developing countries find themselves with collapsing export prices, and, too often, a protracted domestic crisis.

That implies a potential boon to Russia s main gas producers, especially as Europe s energy diversification campaign weakens export demand.

Indeed, strong Chinese demand has supported its trading partners export led growth for much of the past three decades.

This increases developing countries exports and reduces their import demand (or increases it at a lower rate than export growth).

Iran s energy demand will exceed its supply, possibly reducing or even eliminating its oil export capacity in the near future.

With aggregate demand depressed in Europe and the US, governments turn naturally to export markets to relieve unemployment at home.

This indicates that services are not simply responding to domestic demand (which would be higher in China), but also to export opportunities.

China s rebalancing is apparent, first and foremost, in the export sector. Export growth has slowed from its 2001 2008 average of 29 annually to below 10 , making foreign demand a far less critical engine of growth.

Europe is export led China s largest source of external demand as China goes, so goes the rest of China centric Asia and, from there, the ripples reach the shores of an increasingly export dependent US economy.

In particular, slowing global economic demand poses daunting challenges for many Asian economies, especially those that are more dependent on export led growth.

Russia depends heavily on Turkmen gas for domestic consumption and export abroad, which could prove vital as demand rises over the next decade.

Growth was broadly based in most countries, and manufacturing, in particular, benefited from the upturn in the electronics cycle and strong export demand.

When production exceeds domestic demand, producers are compelled to expand exports, creating an export oriented, capital intensive industrial structure that supports rapid economic growth.

He even has his own development strategy, dubbed Thaksinomics, a self styled approach that blends neo liberal export led growth with grassroots based domestic demand.

In general, growth was broadly based, supported by robust export growth and higher commodity prices as well as strong domestic demand driven by low interest rates.

Europeans, who were called on to improve productivity and raise domestic demand, reformed their economies at a glacial pace, while China maintained its export led growth strategy.

Hit by a monstrous external demand shock that sent world trade tumbling by a record 10.5 in 2009, China s export led growth quickly went from boom to bust.

BEIJING China s 12th Five Year Plan calls for a shift in the country s economic model from export led growth toward greater reliance on domestic demand, particularly household consumption.

But, given increasing capacity utilization in the export industries, as well as higher investment requirements owing to the normal capital replacement cycle, domestic investment demand is now also rising.

But, despite visible progress on the export front and noticeable labor cost reductions, this rebalancing is mostly the result of the same collapse in domestic demand that is driving mass unemployment.

A successful export strategy hinges not on how much countries export, but on what they export and how their export sectors are integrated with other domestic economic activities.

The 12th FYP aims to shift China from an export driven growth model toward a balanced economy that relies on domestic demand, while simultaneously addressing industrial transformation, social inequities, and environmental degradation.

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