As a result, the party has watched with alarm as growth has slowed sharply, mainly because of a deceleration in exports and a downturn in the real estate market.
There are clear signs of deceleration in exports of steel and semi-conductors to China," he said.
Too much of China's current slowdown has been attributed in the media to the deceleration in its export growth, Fishwick said.
Massive contraction in export demands, wrenching deceleration of growth, and exacerbated bad debts quickly forced many firms to downsize, and companies have been laying off employees by the hundred.
The cabinet office blamed the deceleration in the United States economy for a loss in Japanese exports.
A faster-than-expected slowdown in imports and exports has reflected not only a deceleration in investment and manufacturing activities, but also a movement of densification of domestic value chains to the detriment of imports of intermediates or export-related inputs.
That said, he and most other analysts said that they expected a sharper deceleration in 2012, in part because of the bleak outlook for exports and the scant indication so far that Chinese leaders are making a serious effort to shift their economy from its export base to one driven by domestic consumption.
The approval came as farmers were once again blocking roads and limiting grain exports, and as government data released this week showed a sharp deceleration in Argentina's economic growth.
However, the headline figure masks a clear deceleration in domestic economic activity, which has been offset by a substantial increase in net exports.
A third is the big downward revision to growth in emerging market economies and India especially.Not pictured in this chart is the forecast for a steady deceleration in world trade, including a large downward revision to forecasts for emerging-market imports and exports.
