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China’s first import surplus for six years [Copy link] 中文

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Post time 2010-3-30 13:15:38 |Display all floors
US always blame China for its currency policy as if it is suffering a crisis all because of China. Actually there is no relation between its unemployment and China’s currency.

Now China has a trade deficit in March, but we didn’t change the exchange rate. How do you explain it? If US would like to sell more high-tech products, we can buy more things. But I’m afraid they don’t sell. So please be silent or blame yourself.

To say the least, will it really help if China revalue its currency? Even if China’s labors become more expensive, do you think US workers is able to compete with other Asian and South American workers?

US just want a collapsed China. That’s all what it expects.


Wen upbeat on US relations despite strains
By Li Xiaokun (China Daily)
Updated: 2010-03-23 07:05

BEIJING - China is likely to run a trade deficit of more than $8 billion in March, Premier Wen Jiabao said on Monday, while rejecting US accusations that the country undervalues its currency to seek a surplus.

"To be honest, I was happy when I learnt of the situation (the projected deficit)," Wen said when meeting delegates to the China Development Forum at the Great Hall of the People. Chinese ministers, heads of foreign companies and economists attended the meeting.

"China is by no means seeking a trade surplus. On the contrary, we have left no stone unturned in expanding imports to achieve a trade balance."

Some US legislators have been demanding the Barack Obama administration label China a currency manipulator in a US Treasury report due out in mid-April.

They argue that China's "undervalued" currency has led to the rising US trade deficit and increasing unemployment. The declaration will make it possible for Washington to slap duties on Chinese imports.

http://www.chinadaily.com.cn/china/2010-03/23/content_9625455.htm
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Post time 2010-3-30 13:51:34 |Display all floors

Reply #1 yuan_zcen's post

yup......no point in exporting FREE GOODs overseas....

ha ha ha


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Post time 2010-4-3 22:31:31 |Display all floors
Yuan,

It depends on what the deficit is from. Right now there are a lot of people laundering RMB into natural resources and the government has been encouraging this. A mismatch between the growth of these resource stockpiles (which are a very crude way of speculating on future prices) and manufacturing growth in certain sectors will result in a trade deficit. That deficit isn't relevant, however, because it's just the result of shifting future input purchases into the present. I.e., the current deficit would mean a later, larger surplus as those resources are depleted in some other quarter.
"Justice prevails... evil justice."

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Post time 2010-4-5 12:36:11 |Display all floors

Reply #3 interesting's post

Time for China's outward investment, don't you think?
Pressure increased by the American Regime!

ha ha ha


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Post time 2010-4-27 11:47:42 |Display all floors
Originally posted by interesting at 2010-4-3 22:31
Yuan,

It depends on what the deficit is from. Right now there are a lot of people laundering RMB into natural resources and the government has been encouraging this. A mismatch between the growt ...


OK, I believe you at the time. Let's see what happens in the coming two months.
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Post time 2010-5-2 10:35:44 |Display all floors
Yuan,

Yep, wait and see.
"Justice prevails... evil justice."

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