China’s Trade Surplus Jumps 33 Percent – Joe McDonald

From AP:

China’s jumped nearly 33 percent in August to its second-highest monthly level, according to data released Tuesday, adding to pressure on Beijing to ease currency controls and narrow its yawning trade gap.

The August trade surplus was $24.97 billion, up from $18.8 billion in August 2006, the Chinese customs agency said on its Web site. That surpassed July’s $24.4 billion but fell short of the all-time high of $26.9 billion in June.

Economists expect China’s trade surplus to rise steadily despite promises to ease currency controls and restrictions on imports. [Full Text]

Read also Paulson Urges Restraint in Policy on China Trade by Steven R. Weisman.

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