Error compiling static Qt on Windows

When trying to compile a static Qt version on Windows XP with Mingw, I get this error:

C:/MinGW/bin/mingw32-make -f Makefile.Debug all
mingw32-make[3]: Entering directory `C:/Qt/4.7.0/tools/qml'
g++ -enable-stdcall-fixup -Wl,-enable-auto-import -Wl,-enable-runtime-pseudo-rel
oc -mthreads -Wl -Wl,-subsystem,windows -o ..\..\bin\qmlviewer.exe object_script
.qmlviewer.Debug -L"c:\Qt\4.7.0\lib" -L"c:\Qt\4.7.0\lib" -lmingw32 -lqtmaind -l
QtDeclaratived -lQtScriptd -lQtSvgd -lQtSqld -lQtXmlPatternsd -lQtOpenGLd -lglu3
2 -lopengl32 -lQtGuid -lgdi32 -lcomdlg32 -loleaut32 -limm32 -lwinmm -lwinspool -
lmsimg32 -lQtNetworkd -lQtCored -lkernel32 -luser32 -lshell32 -luuid -lole32 -la
dvapi32 -lws2_32
c:\Qt\4.7.0\lib/libQtDeclaratived.a(qdeclarativevaluetype.o):C:\Qt\4.7.0\src\dec
larative/qml/qdeclarativevaluetype.cpp:916: undefined reference to `imp__Z13qt
_defaultDpiv'
c:\Qt\4.7.0\lib/libQtDeclaratived.a(qdeclarativevaluetype.o):C:\Qt\4.7.0\src\dec
larative/qml/qdeclarativevaluetype.cpp:941: undefined reference to `imp__Z13qt
_defaultDpiv'
collect2: ld returned 1 exit status
mingw32-make[3]: *** [..\..\bin\qmlviewer.exe] Error 1
mingw32-make[3]: Leaving directory `C:/Qt/4.7.0/tools/qml'
mingw32-make[2]: *** [debug-all] Error 2
mingw32-make[2]: Leaving directory `C:/Qt/4.7.0/tools/qml'
mingw32-make[1]: *** [sub-qml-make_default-ordered] Error 2
mingw32-make[1]: Leaving directory `C:/Qt/4.7.0/tools'
mingw32-make: *** [sub-tools-make_default-ordered] Error 2