Saturday, April 10, 2010
China Sees First Trade Deficit in Years
To go along with Kevin's article. According to the official Xinhua news agency, China’s General Administration of Customs said the March reading was the first trade deficit since April 2004. China had a trade surplus of $7.6 billion in February and $14.2 billion in January.
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The trade deficit has only been for a month and I am not sure it is going to last. Thus, I am slightly amused at how the Chinese government has been trying to make such a big deal out of it.
As political pressure mounts on Chinese officials, it will be interesting to see how it plays out politically.
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