China Surplus Data Demonstrates Heavy Dependency on US
According to China’s Ministry of Commerce, the country’s overall trade surplus was $155.1 billion in 2011. Figures from the Commerce Department Monday indicate China’s trade surplus against the United States rose 7.9 percent to $272.3 billion for the first eleven months of 2011.
The figures highlight the chance the China-to-US surplus will exceed $300 billion for 2011 after accounting for December’s numbers. Forbes notes even if December’s number is zero, China’s trade surplus related to the U.S. rose 175.6 percent last year, well above the 149.2 percent seen in 2010 and the 115.7 percent the country experienced in 2009.
The data suggests China’s growth is largely dependent on the U.S. economy. The government may attempt to use this data during negotiations. Some say the news could have President Obama leaning toward the development of a China trade task force. The new task force will be made up of officials from the Treasury, Commerce, and Energy Departments as well as the U.S. Trade Representative’s office.
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The figures highlight the chance the China-to-US surplus will exceed $300 billion for 2011 after accounting for December’s numbers. Forbes notes even if December’s number is zero, China’s trade surplus related to the U.S. rose 175.6 percent last year, well above the 149.2 percent seen in 2010 and the 115.7 percent the country experienced in 2009.
The data suggests China’s growth is largely dependent on the U.S. economy. The government may attempt to use this data during negotiations. Some say the news could have President Obama leaning toward the development of a China trade task force. The new task force will be made up of officials from the Treasury, Commerce, and Energy Departments as well as the U.S. Trade Representative’s office.
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