日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

US EUROPE AFRICA ASIA 中文
Business / Industries

Dairy farmers in New Zealand hit by China's slowing economy

(Agencies) Updated: 2015-10-12 07:56

Dairy farmers in New Zealand hit by China's slowing economy

A woman with a baby selects imported infant formula in a Beijing supermarket. [Photo/China Daily]

When China's economy was growing in double digits, dairy farmers more than 9,600 kilometers away in New Zealand felt like they had won the lottery.

They were getting record prices for their milk and it seemed there was no slaking China's thirst for premium New Zealand infant formula, especially after a tainted milk powder scandal made Chinese shoppers wary of domestic brands.

Now, it's as if farmers have discovered the lottery ticket was not valid. A world milk glut and a decline in Chinese demand for imported dairy products have sent prices down by 50 percent. Many farmers are borrowing to stay afloat and rural suicides have increased.

Dairy exports in the year that ended June totaled NZ$12 billion ($7.6 billion), down from nearly NZ$16 billion a year earlier. Dairy trade to China has proved particularly volatile, rising from NZ$2.8 billion in 2013 to NZ$6 billion last year, then plunging to NZ$2.3 billion this year.

"We saw it happening on the cash-flows way back in April-May, and could see well ahead that there was going to be just massive deficits," Chris Engel, a farmer with 400 cows in Wairarapa, a region of quaint towns, rolling green pastures and a striking backdrop of snow-peaked mountains, said.

Engel, who has been farming with his wife Jude for more than three decades, said there have been droughts and other challenges in the past, but never such bleak pay days. "We just had to be in constant contact with the bank, updating them regularly, to get their support to pay the bills."

The financial dilemma for New Zealand's dairy farmers, and the economy they help power, underscores that China's quarter century of supercharged growth has given it enough global weight to create not only winners, but losers too.

China's growth last year of 7.4 percent was its slowest in more than two decades, sending ripples around the world. The forecast is for 7 percent or less this year.

Australia, which boomed for a decade on Chinese demand for its vast reserves of iron ore and coal, is grappling with a painful transition after those sources of growth shriveled.

Last month, Tony Abbott was toppled as Australia's prime minister by a challenger from his ruling Liberal Party, in part reflecting dissatisfaction with waning economic growth.

Abbott's inability to successfully articulate a new strategy for the $1.5 trillion economy just increased his problems.

But the challenge from China is not only its slowing economy.

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 91在线播放网站 | 国产精品精品视频一区二区三区 | 欧美精品一区二区在线观看 | 看a网站| 国产精品免费在线播放 | 国产99久久久久久免费看 | www.夜夜操.com | 日韩成人免费电影 | 涩涩色综合亚洲悠悠色 | 日韩精品一区二区三区中文在线 | 亚洲一区二区在线 | 日本精品免费 | 成人 在线 | 国产99一区二区 | 色综合99天天亚洲 | 中文在线一区二区 | 国产亚洲精品久久一区二区三区 | 欧美日韩精品一区二区三区 | 国产精品国产三级国产aⅴ中文 | 天天狠天天干 | 国产123| 精品欧美乱码久久久久久 | 欧美亚洲国产日韩 | 一区二区三区在线 | 天天做天天爱天天大综合 | 欧美日韩不卡合集视频 | 亚洲成av人片在线观看 | 最新国产精品 | 国产12孩岁A片被A午夜 | 亚洲成人中文 | 亚洲精品乱码久久久久久 | 欧美一区二区三区视频 | 欧美黄视频网站 | 日本欧美久久久久免费播放网 | 亚洲高清在线观看 | 欧美精品1区2区3区 色精品国产 | 男女进进出出动态图啪啪 | 日韩成人在线视频 | 欧美激情综合色综合啪啪五月 | 网站一区| 日本美女一区二区 |