BBC News has an article on China’s record trade surplus for the month of October, stating that it has reached $12 billion. Contrast that to last year’s figure of $7.1 billion plus the comparison of the current year-to-date surplus vs. that of all of 2004:

“China’s total surplus for the first 10 months of 2005 stands at $80.4bn compared with $32bn in 2004 as a whole.”

There are also a few interesting points made about the value of the yuan:

“Although China did increase the value of the yuan by 2.1% in July, Washington maintains that it remains undervalued and thus gives Chinese exports an unfair advantage…

“China has long maintained that its eventual goal is currency liberalisation, but that this would only take place when the time was right so as not to destabilise its fast-paced, export-centred economy.”

TAGS: China | Yuan | Trade+Surplus | US

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