22 June 2006

New Surplus record

Businessweek: China Sets A New Record

Riddle: What's really big and keeps getting bigger despite everyone's efforts to do something about it? China's trade surplus, that's what. On June 12, Beijing said it had set a record, $13 billion, in May, topping the previous mark of just over $12 billion last October. The May number is also up 44% from a year earlier. China has answered cries of dismay from the U.S. and other trading partners by letting the yuan inch up, but it's highly unlikely to let it leap by the 20%-plus that would be needed to tame the trade surplus.

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