Economics
China Surprise Trade Gap May Help It Parry U.S. Yuan Criticism
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China’s efforts to parry U.S. criticism that its currency is undervalued got a boost from a report showing the world’s second-largest economy unexpectedly posted a $7.3 billion trade deficit.
Exports rose 2.4 percent in February from a year before, the least since 2009, as Lunar New Year holidays disrupted shipments, and imports climbed 19.4 percent, customs bureau data showed yesterday. Central bank adviser Li Daokui said that the full-year trade surplus will shrink from the 2010 level.