China's trade surplus balloons to 28.7 billion dollars

[ChromeFoundry]

Source: The Economic Times of India

10 Aug 2010, 1630 hrs IST,AGENCIES

BEIJING: China's trade surplus ballooned to 28.7 billion dollars in July as exports hit a record high, the government said Tuesday -- data likely to intensify pressure on Beijing for a stronger yuan.

The nation posted its biggest trade surplus since January 2009 as the value of China's overseas shipments reached a monthly record 145.52 billion dollars in July despite slower export growth, customs authorities said.

Stocks across Asia were hit by the data, which showed imports slowed for the fourth straight month in July and fuelled fears the economy was weakening. Several regional markets rely on China's imports to boost their own economies.

Shanghai fell 2.89 percent, while Hong Kong lost 1.50 percent, Sydney dropped 1.18 percent and Tokyo lost 0.22 percent.

The trade figures suggested China had so far seen little impact from the European debt crisis and weak recovery in the United States, as consumers continued to snap up Chinese-made televisions, T-shirts and leather shoes.


Read more: http://economictimes.indiatimes.com/news/international-business/Chinas-trade-surplus-balloons-to-287-billion-dollars-/articleshow/6287658.cms

[OhioChick]

1. K&R n/t

[lib2DaBone]

2. Tell China to keep all their inferior, cheap crap... we dont want it...

Poison Drywall
Poison Pet Food
Lead Paint in Toys
Anti freeze in toothpaste
Faulty Auto Parts
Plastic shoes
Faulty bolts

[Hulk]

3. WE like it!

Hell..we're not doing anything to slow it down. The stores are chuck full of "Made in China" only crap. We have pushed our corporate thieves out of the country to use the cheap Chinese labor and lax environmental laws so they can reap HUGE profits. We have NO tariffs on our goods...NONE. We are willing participants to an uneven playing field for goods. Hell..why not? You can hire the Chinese peasant for $1 a day. Why pay those f*cking union employees that used to make up the middle class America?

We are asking for it. Twenty-nine billion is just a start. We'll be crying when it hits the trillion dollar mark...and we'll just sit stupidly idle while the corporate swine reap their HUGE profits from slave labor abroad and we flip burgers and clean windows at home. We are a nation of f*cking morons. This isn't rocket science, folks.

[UndertheOcean]

5. "We are a nation of f*cking morons." well, if true , morons get what they deserve

hyperbole

[MichiganVote]

4. We'll never get this shit balanced out now.

[mike r]

6. Keep on buying Chinese-made garbage, people

[Mimosa]

7. Try finding products not made in China

It's the industrialists and the U.S. government which facilitated the selling out of American manufacturing.