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The US Trade Deficit With China Has Dropped Sharply By &Nbsp, Which Is Conducive To Reducing The Pressure Of RMB Appreciation.

2011/4/14 9:18:00 50

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The latest data released by the US Department of Commerce on 12 may show that the United States was in China in February of this year.

Trade

The deficit is nearly 20% less than in January.

The US trade deficit narrowed as compared with January, but both imports and exports declined.

U.S.A

In February, the balance of trade data was not satisfactory, and both imports and exports declined, reflecting the weakening demand both at home and abroad.

According to us statistics, the US trade deficit with China in February was 18 billion 840 million US dollars, which was significantly lower than that in January of 23 billion 270 million US dollars.

The trade deficit with China decreased, making the overall trade deficit of the United States narrowed to 45 billion 800 million dollars in February.

Market analysts pointed out that this is mainly due to seasonal factors such as the Spring Festival holidays affecting China's exports, while China's imports are rising because of rising international commodity and raw material prices.

The reduction of crude oil imports by the United States because of high oil prices is also an important reason for its trade deficit reduction.

China's cheap goods have become the backbone of the consumer economy in the United States, but they have become "scapegoats" for the Sino US trade imbalance.

China

Ministry of Commerce

Minister Chen Deming has said before that China's foreign trade is moving towards a more balanced direction. It is estimated that the proportion of trade surplus to GDP will drop further this year.

China will also continue to increase imports from the least developed countries and the countries with major trade surplus.

Data released by the General Administration of Customs on Sunday showed that China had a trade deficit of $1 billion 20 million in the first 3 months of this year, the first quarterly trade deficit since the first quarter of 2004.

It is widely expected that China's trade surplus will narrow this year.

The US trade deficit with China is reduced, which will help to reduce the pressure of RMB appreciation.

Domestic politicians overemphasize the deficit of $200 billion against China and use it as a basis for putting pressure on the renminbi.

But in fact, the RMB exchange rate has not been substantially adjusted due to external pressure. Analysts say that all changes in exchange rate policy are subject to the need for internal structural adjustment. This year, the renminbi has a certain appreciation. This space will mainly come from the pressure of import inflation rather than the trade surplus.