NYT: China's Trade Surplus Tripled in 2005

[DeepModem Mom]

China's Trade Surplus Tripled in 2005
By DAVID BARBOZA
Published: January 11, 2006


SHANGHAI, Jan. 11 - China said today that its trade surplus with the rest of the world tripled in 2005 to a record $102 billion, a figure that could reignite global trade frictions and also step up 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.

There was evidence in today's report that imports into China had begun to rise and export growth to the rest of the world had slowed slightly in the latter part of the year, easing concern among some economists.

Still, the blockbuster trade figures were further evidence of China's dramatic and unparalleled rise as a global economic power.

The government said that exports in 2005 were a record $762 billion, up 28 percent, while imports climbed to $660 billion, up nearly 18 percent....


http://www.nytimes.com/2006/01/11/business/11cnd-yuan.html

[cade]

1. things have really changed

even in the few years I have been around. China imports alot of raw material form the U.S. and sends back alot of finished goods. Things like scrap iron, grain and wool go out and things like clothing, toys and tools come back. Most of what I follow personally is in the agriculture sector but the trend of China taking alot more than the U.S gets from it is disturbing especially as I wouldn't think they have our best interests at heart.

[fishnfla]

2. They sell us their goods and finance our debt

just wait until they call in their markers, but in Euros....we're doomed

[Occulus]

3. meanwhile, the US trade deficit..... n/t

[FreakinDJ]

4. Regan economics proved deficits don't mean any thing

Quote - Dick ?