China Trade Deficit Explodes… Again
Looks like China’s trade deficit with the rest of the world is hitting new highs again. Today’s Wall Street Journal notes that:
China’s huge trade surplus is on track to expand as much as 80% this year, new data suggest, as the nation brings its formidable competitive pressure to bear on a widening range of products and trading partners.
Manufacturing in China still growing fast
The numbers just confirm what I and many see happening around them: Manufacturing in China is still growing in leaps and bounds. And the pain for many countries around the world is just getting deeper and deeper. It’s hard to avoid when factory workers here make as low as $50/month for some jobs (most make about $100/month these days, though), like my girlfriend’s cousin.
The article goes on to state that some Chinese economists are predicting a $300 billion trade deficit for the year. That’s some serious cash.
