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Time to change the way we think about the world
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| Contributor | RP |
| Last Edited | RP Sep 14, 2005 03:17pm |
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| Category | Analysis |
| News Date | Tuesday, September 13, 2005 09:15:00 PM UTC0:0 |
| Description | China's August goods exports: $68 billion
US July goods exports: $75 billion
China should start exporting more goods than the USA in late 2005/ early 2006. That is rather impressive. It means that China is now too big not to play a bigger role in the management of the world economy -- and to take more responsibilty for the constructive resolution of global imbalances.
A Chinese trade surplus of $122 billion implies a current account surplus of around $140 billion - or roughly 7.5% of Chinese GDP. In other words, China's current account surplus looks to be the mirror image of the US current account deficit. |
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