3 years, 3 months ago
How much is China's 2008 surplus?
Paul Krugman says in 1997, China ran a $24 billion trade surplus or merchandise, but if you deduct Hong Kongs $19 billion deficit spending, the total was $4.6 billion. What is the surplus amount today?
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M$1 Answer
http://www.monstersandcritics.com/news/business/news/article_1451480.php/China_2008_trade_surplus_rises_despite_slowdown_
"Beijing - China's estimated foreign trade surplus rose to a record 290 billion dollars last year despite a global slowdown hitting exports in the second half of the year, state media said on Sunday. "
http://www.google.com/hostednews/afp/article/ALeqM5g6gX0Sk6t_lL5HYgho3c6fYCt7Cw
"BEIJING (AFP) — China's trade surplus is likely to hit a record 290 billion dollars in 2008 despite woes caused by the global slowdown, state press said Sunday, citing the nation's customs administration.
The figure was 10 billion dollars higher than a trade surplus estimate issued by the National Development and Reform Commission, China's economic planning agency, two weeks ago.
The General Administration of Customs said China's foreign trade in 2008 was expected to reach 2.55 trillion dollars, up 18 percent from 2007, Xinhua news agency reported."
http://www.reuters.com/article/idUSPEK6666120090104
" BEIJING, Jan 4 (Reuters) - China's trade surplus was about $290 billion in 2008 as total foreign trade reached $2.55 trillion, rising 18 percent from 2007, Xinhua said on Sunday, citing a report by the General Administration of Customs.
That would make the December trade surplus about $34 billion as Xinhua said China had a surplus of $255.95 billion in the first 11 months of the year."
"Beijing - China's estimated foreign trade surplus rose to a record 290 billion dollars last year despite a global slowdown hitting exports in the second half of the year, state media said on Sunday. "
http://www.google.com/hostednews/afp/article/ALeqM5g6gX0Sk6t_lL5HYgho3c6fYCt7Cw
"BEIJING (AFP) — China's trade surplus is likely to hit a record 290 billion dollars in 2008 despite woes caused by the global slowdown, state press said Sunday, citing the nation's customs administration.
The figure was 10 billion dollars higher than a trade surplus estimate issued by the National Development and Reform Commission, China's economic planning agency, two weeks ago.
The General Administration of Customs said China's foreign trade in 2008 was expected to reach 2.55 trillion dollars, up 18 percent from 2007, Xinhua news agency reported."
http://www.reuters.com/article/idUSPEK6666120090104
" BEIJING, Jan 4 (Reuters) - China's trade surplus was about $290 billion in 2008 as total foreign trade reached $2.55 trillion, rising 18 percent from 2007, Xinhua said on Sunday, citing a report by the General Administration of Customs.
That would make the December trade surplus about $34 billion as Xinhua said China had a surplus of $255.95 billion in the first 11 months of the year."
You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
M$
Hrm...guess there are two sides to this story
http://www.telegraph.co.uk/finance/financetopics/financialcrisis/4431037/China-falls-into-budget-deficit-as-spending-balloons.html
"
China falls into budget deficit as spending balloons
China's attempts to spend its way out of economic depression led to a fiscal deficit of 111bn yuan (£12bn) last year.
...
Despite a near 20pc rise in tax revenues and a record surplus of 1.19 trillion yuan (£128bn) in the first six months of the year, the dramatic scale of government spending in November and December was enough to plunge the entire year into deficit.
The figures are the first indication of how quickly and forcefully China reacted to the economic crisis after it announced a fiscal stimulus package of 4 trillion yuan in November to build new roads, railways, schools and hospitals.
Government spending in December surged to 1.66 trillion yuan, more than triple the previous month's total and 31pc higher compared to the same month last year. "
What is China's deficit spending? This is an important part of the equation.
Will China face rapid Inflationary pressures in 2011 thru 2013?