After years of running large trade surpluses mainly with the United States, China is now exporting around the world at such a rapid rate that other countries find themselves racking up large bills to China as well. The resulting boom for China is certain to step up trade frictions elsewhere and increase pressure on Beijing to let its currency appreciate.
If the trend of the first two months continues, China would run a trade surplus with not only the United States but it would also turn its deficit with the rest of the world into a surplus. This could lead some of China’s trading partners in Europe to join the United States in stronger demands for trade restrictions on China.
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