China could face trade deficit this quarter
January 31, 2011 Category Foreign trade, Weekly
China may move from a trade surplus to a trade deficit during this quarter as import growth exceeds that of exports, the State Information Center (SIC) said. Exports may grow 18% in the first three months of this year, lagging behind an estimated 25% rise in imports because of a stronger yuan, ballooning oil and commodity prices and escalating trade frictions. The trade deficit, however, may ease some tensions with the United States over the value of the yuan. In March last year China recorded a trade deficit for the first time in six years, a situation that has not been repeated. The surplus has added to inflation risks by pumping money into an economy awash with cash from record bank lending. The trade surplus totaled USD183 billion last year, narrowing for a second year after a record USD295 billion in 2008, the South China Morning Post reports.
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