China Trade Surplus to Fall 19% on Imports Surge
From Bloomberg:
China’s trade surplus may slide 19 percent in 2010 as imports surge because of growing domestic demand, Bank of America-Merrill Lynch said.
The amount will narrow to $160 billion from an estimated $198 billion this year, Lu Ting, a Hong Kong-based economist for Merrill, said in an interview today.
A smaller surplus may reduce friction between China, which is poised to become the world’s biggest exporter, and its major trading partners, the commerce ministry said Dec. 16. Disputes with the U.S. or Europe span shoes, tires, screws and the Obama administration’s complaint this week that Chinese plans to foster “indigenous innovation” are erecting a trade barrier.
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Origin: Sophie Leung, Bloomberg
