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China's Trade Surplus Hits 18-Month High

   VOA News 10 August 2010
   A  worker stands on a stack of rolled steel on a dock at Guangzhou, in
   south China's Guangdong province. The steel, shipped from the Baosteel
   factory in Shanghai , was destined for car manufacturers

Photo: AP

   A  worker stands on a stack of rolled steel on a dock at Guangzhou, in
   south China's Guangdong province.

   China's  exports  jumped  to  a record high in July, but the country's
   slowing  demand  for imports is raising concerns about the pace of the
   global economic recovery.
   China's customs agency said Tuesday exports jumped 38 percent compared
   to July of last year (to $145.5 billion).  Â
   Officials  said  imports grew less than 23 percent (to $116.8 billion)
   in July, driving China's trade surplus to an 18-month high.
   Some  economists  say it will be more difficult for the global economy
   to  grow  if  other  countries  are  not  able  to sell more goods and
   services to businesses and consumers in China.
   China's customs agency said July's increase in imports is the smallest
   since November 2009, and a decline from the June figures.
   Chinese  officials  have been concerned that the country's economy was
   expanding  too  quickly,  and  the  government  has  been cutting back
   programs to stimulate the nation's economic growth.
   Tuesday's report from China found European demand for Chinese products
   remained strong.
   Exports  to  Europe  totaled  $28.7 billion in July, up from the month
   before.
   Overall,  the  gap between China exports and imports was $28.7 billion
   for July.
   The  United  States  -  the  world's biggest economy - is scheduled to
   release data on its trade deficit on Wednesday.

   Some information for this report was provided by AP and Reuters.

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