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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: 2MAR$ who wrote (77518)	8/10/2011 1:45:31 PM
From: elmatador	1 Recommendation Respond to of 217906

Business as usual: China's Surplus Leaps as July Exports Hit New High July's surplus is $31.85 billion. By Fran Wang, Agence France-Presse Aug. 10, 2011 China's trade surplus expanded to $31.48 billion in July as exports rose by a fifth to hit a new record high, the customs agency said on August 10. The trade surplus -- a major point of tension for China's key trade partners, the United States and Europe -- was well in excess of June's $22.27 billion. Analysts said the figures, which also outstripped a Dow Jones forecast of $26 billion based on a poll of economists, would add further pressure on Beijing to allow the yuan to appreciate. China's major trading partners have long complained that the yuan is deliberately undervalued to give Chinese exporters an unfair advantage. "The expansion of China’s structural surplus will certainly add more pressure for RMB appreciation," said Alistair Thornton, a Beijing-based China analyst at IHS Global Insight. "Both a weakening dollar and a softening inflation outlook in China will allow authorities to step up the pace of nominal appreciation against the dollar." Exports were up 20.4% year on year to $175.13 billion -- a fresh monthly record -- while imports rose by 22.9%, the customs agency said. Thornton said July's export rebound was partly due to seasonal factors, and reflected demand for Christmas-season orders overseas. "Given that most orders for the next few months have already been placed, it is unlikely that the drastic downward shift in global sentiment will have too big an impact on exports through the short run," he said. "Nonetheless... the recent market turmoil will certainly feed into the data towards the end of the year." The surge in exports came despite manufacturing activity in China contracting for the first time in a year in July due to Beijing's efforts to slow the economy and weakening overseas demand, according to HSBC data