US$27.1B Trade Surplus to Add Pressure on China

Mainland China's trade surplus of US$27.1B in October is expected to give U.S. lawmakers more reasons to attack Beijing's foreign exchange policy and accuse the government of undervaluing the yuan, according to the South China Morning Post.

 

Citing figures from the customs bureau, the Post notes that mainland exports rose 22.9% in October from a year earlier to US$135.98 billion, while imports climbed 25.3% to US$108.83 billion.

 

"The elevated trade surplus could add some pressure on China in the G20 meeting," Lu Ting, an economist with Bank of America Merrill Lynch told the Post.

 

The trade surplus for 2010 is expected to reach around US$180 billion, smaller than last year's US$196 billion, says the Post. Economists expect mainland import to rise further while export growth will slow down in the next two months.

 

 

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