exports

US gross domestic product may be reduced only by one-half of 1 percent at worst as a result of a Japanese crisis, said Brian Levitt, economist at Oppenheimer Funds.

According to Levitt’s view, exports account for only 10 percent of U.S. GDP, and Japan accounts for only 5 percent of that number. "Five percent of U.S. exports—10 percent of the U.S. economy—so one-half of one percent to U.S. GDP at the absolute worst," he told CNBC Wednesday.

A famous economist Nouriel Roubini of Roubini Global Economics said that even in case the US and European economies manage to avoid a double dip, it will still feel like a recession, while more than half of the 800-plus US banks on the "critical list" are likely to go bust.

Roubini noted that the second half of the year will remain weak as tailwinds become headwinds.

"In the second half, fiscal policy becomes a headwind, no more cash for clunkers," Roubini said. "The positive scenario is that growth will be below par."

According to a report by the Office of the U.S. Trade Representative China imposed a great number of trade restrictions in 2009, more than in other years. The Celestial Empire failed to comply with its obligations as a member of the World Trade Organization in many areas including intellectual property rights, industrial policies, trading rights and distribution services, agriculture and services.

 According to Damon Vickers, chief investment officer of Nine Points Capital Partners, the US dollar is going to be "utterly destroyed" and become "virtually worthless" on the grounds of absence of real resources supporting the currency. He cited other countries as those who have real potential as they deal with exporting of real goods.

 During Asian trading on Thursday the Japanese yen showed a slight decline against its major counterparts after the release of traded balance data.

In September Japanese merchandise trade surplus made up 520.6, the largest in 18 months. It was lower than forecast 625.3 billion yen after the 185.7 billion yen surplus in August.