Huge trade surplus recorded by China – David Barboza

From the International Herald Tribune:

China said Wednesday that its surplus with the rest of the world tripled in 2005 to a record $102 billion, a figure that could reignite global friction and also increase pressure on the country to allow its currency to appreciate further.

The United States and the European Union have been pressuring China for much of the past year to allow its currency to rise, in order to restrain a flood of Chinese exports and to rebalance China’s own economy to allow for more imports.

January 11, 2006 9:47 AM
Posted By:
Categories: Economy