Exports hit $130.7 billion during the month as global trade perked up, bringing China’s full-year export figure to $1.20 trillion, according to figures from the General Administration of Customs.
The nation’s trade surplus hit $18.4 billion for the month of December,
According to Agence France, ” With China’s trade data for all of 2009 now out, the nation’s crowning as the 2009 export champion is expected to be confirmed when Germany releases full-year trade figures on February 9.”
We wonder if predatory currency manipulation might be involved?
Great discussion of this issue here.
“China needs the U.S. economy to recover strongly and renew its import growth. Otherwise, China will have a tough time sustaining its recovery,” said Eswar Prasad, an economist at Cornell University. That is one of the key reasons China is reluctant to lift its currency now.”
So it’s up to US to keep buying?