China’s widening trade surplus in June will inevitably re-focus attention on the question of the overvalued yuan. The renewed surplus looks particularly ill-timed, coming days after the U.S. Treasury agreed not to name China as a currency manipulator.
…China’s stimulus was big, and it was fast. Much of the bank lending ended up going into infrastructure and real-estate investment, as well as various places that might not have been intended. But there were few voices of dissent as China almost single-handedly kick-started commodity prices, regional exports and a wider recovery. Once again, the world marveled as Beijing reeled off another set of double-digit gross domestic product growth numbers….
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What do China’s slowing imports mean?
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