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| Economy |
| Suddenly China Goes Into Trade Deficit In March |
| 2010-03-23 |
| The country will probably see a "record trade deficit" in March thanks to surging imports, Minister of Commerce Chen Deming said on Sunday, while warning that Beijing will "fight back" if Washington labels China a currency manipulator. Speaking at the three-day China Development Forum that ends on Monday, Chen said: "I believe there will be a trade deficit in March" - which will be the first since May 2004. After China's exports rebounded in December, US legislators and economists have been demanding the Barack Obama administration label China a currency manipulator in a US Treasury report due out in mid-April, which will make it possible for Washington to slap duties on Chinese imports. |
| Posted by: Anonymoose |
| #4 The timing is quite convenient... |
| Posted by: newc 2010-03-23 11:18 |
| #3 best be debt free before that happens |
| Posted by: 746 2010-03-23 10:16 |
| #2 (And yes, it also means that currency devaluation is a tax when it happens here too, as it's expected to.) |
| Posted by: Thing From Snowy Mountain 2010-03-23 01:05 |
| #1 The artificially low value of the Yuan is like a tax on everyone _in_ China directed towards supporting exports. I'm sure the nomenklatura or whatever the equivalent in China is would like to stop trading for worthless dollars, but it looks to me like they're too addicted to their tax-in-all-but-name. |
| Posted by: Thing From Snowy Mountain 2010-03-23 01:04 |