Learning English - Words in the News 12 October, 2007 - Published 10:18 GMT China's growing trade surplus | ||||||||||||
China's trade surplus grew to its fourth highest monthly level on record in September. These figures are adding to pressure on Beijing to take action on revaluing its currency at the UN. From Shanghai, Quentin Sommerville reports: China's trade surplus with the rest of the world just keeps on growing. While it means the country is being flooded with cash, it's also causing the government a number of headaches. The surplus for September jumped fifty six per cent on the previous year to almost twenty four billion dollars. A host of scandals involving everything from poison toothpaste to lead paint in toys doesn't seem to have harmed China's exports for now. The surplus wouldn't be so big if Chinese consumers bought more goods from overseas but the rising middle class has been slow to spend its new found wealth. Some lawmakers in America say that the reason that China's exports are so inexpensive is because the currency, the Yuan, is undervalued. They'd like to tax Chinese goods entering America to make them more expensive in the hope of protecting American manufacturers, although that wouldn't go down well with American shoppers who have grown used to falling prices courtesy of Chinese factories. Quentin Sommerville, BBC News, Shanghai trade surplus keeps on growing flooded with cash headaches jumped A host of exports lawmakers undervalued wouldn't go down well with | LATEST STORIES 27 May, 2011 Destruction of smallpox virus delayed 25 May, 2011 Micro-finance 'misused and abused' 20 May, 2011 Lonely planets 18 May, 2011 Germany to invest in more electric cars 16 May, 2011 Argentina builds a tower of books Other Stories | |||||||||||