Thoughts from Nanjing

Just arrived in a very frosty Nanjing for the annual CEFCO meeting of China's exhibition industry. The conference, which usually attracts around 500 people, is titled "Forging Ahead Against Crisis" and it will be interesting to take the temperature of the industry both here in China and from around the world. I hope it's warmer than the weather which has warmed up at midday to 4° from a 'challenging' -6°overnight.

The mood won't, though, be much helped by the news that, according to the BBC, "China's exports have dropped into their biggest decline in a decade". They were 2.8% year-on-year in December while imports tumbled a disastrous 21.3%. This will widen the trade gap and make it even more likely that some of the new Democrats in Washington will push for unwise trade actions against China, further deepening the spiral. Let's hope not and that steadier heads among the Obamistas prevail.

My room at the Fraser Suites looks out over the amazing building pictured here which is, I gather, the Nanjing Olympic Centre.