China's Sept. Trade Gap Jumps 56 Percent

[Omaha Steve]

Source: Associated Press

BEIJING (AP) — China's trade surplus for the first nine months of this year soared past the full-year record set in 2006 as exports in September rose nearly 23 percent, the government reported Friday, adding to pressure for faster Chinese action on its currency and market barriers.

The trade gap in September hit its fourth-highest monthly level on record, rising 56 percent over the year-earlier period to $23.9 billion, according to the Commerce Ministry.

That pushed the total for the first nine months of the year to $185 billion, the ministry said, breaking the 2006 full-year record of $177.5 billion. A Chinese cabinet think tank forecast in August that the surplus for all of 2007 could reach $275 billion.

The Chinese government says it is not actively trying to inflate its trade surplus. But some American lawmakers are pressing for sanctions if Beijing fails to take faster action to ease currency controls that they say are fueling the trade gap.

Read more: http://money.excite.com/jsp/nw/nwdt_rt_top.jsp?news_id=ap-d8s7okoo0&

[aquart]

1. Sanction China? Us?

Oh, I see. We still think we're in charge. Cute.