Aug. 11 (Bloomberg) -- Chinaâs exports fell for a ninth month on weak global demand, reinforcing the governmentâs case for sticking with a âmoderately looseâ monetary policy to fuel domestic growth. Overseas sales dropped 23 percent in July from a year earlier, the customs bureau said today on its Web site. That matched the median estimate in a Bloomberg News survey of 23 economists. Exports fell 21.4 percent in June. Premier Wen Jiabao reiterated on Aug. 9 that monetary policy and a âproactiveâ fiscal stance will remain unchanged because of problems including sliding export demand and industrial overcapacity. China, the worldâs second-biggest exporter, has stalled gains by the yuan against the dollar, increased tax rebates and boosted trade finance to aid exporters. Chinaâs exports and imports may âfurther stabilize and start to recover in the coming months as the extreme uncertainties that froze orders earlier on fade,â said Wang Tao, an economist at UBS AG in Beijing. âTowards the end of 2009, we expect exports to recover on rebounding consumer demand, even though from a lower level.â http://www.bloomberg.com/apps/news?pid=20601087&sid=aAyWg0P3ISXg This is supported by Baltic Dry Index http://www.bloomberg.com/apps/cbuilder?ticker1=BDIY:IND and by Dry Cargo Shipments http://www.ssyonline.com/Market_Information/index.html So who is hoping for a V recovery ? Goldman ? Good luck !