China’s trade surplus widens in December

by: Ezra Marbach

The Financial Times reports that China recorded the largest monthly trade surplus in nearly a decade in December, adding to pressure on the central government’s efforts to manage demands for a revaluation of the Chinese currency.

The trade figure’s release coincided with the arrival in Beijing of Don Evans, the outgoing US commerce secretary, whose visit signals a possibly more aggressive approach from the second Bush administration to reining in the bilateral trade deficit running at more than $100 billion a year.

China was also targeted in a report released on Tuesday in the US. The report, which was prepared for a union-backed think-tank blamed trade with China for the loss of nearly 1.5 million jobs between 1989 and 2003.