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by Greg Cruey on December 31, 2009
© jaaron
A Bloomberg piece is projecting that China's trade surplus will drop by almost 20% in 2010.
China's trade surplus in 2008 was about $200 billion. Lu Ting, a Hong Kong-based economist for Merrill Lynch, projects that the trade surplus in China will shrink to about $160 billion as Chinese consumers spur demand for imported products. And that would be good.
A smaller surplus may reduce friction between China, which is poised to become the world's biggest exporter, and its major trading partners, the commerce ministry said Dec. 16. Disputes with the U.S. or Europe span shoes, tires, screws and the Obama administration's complaint this week that Chinese plans to foster "indigenous innovation" are erecting a trade barrier.No one expects trade tensions to disappear completely, though.
If your business exports prodect to China, 2010 could be a good year.
Permalink: Will China's Shopping Public Buy American?
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