Tuesday, June 12, 2007

$1,200,000,000,000 (Trillion) in National Reserves

CHINA is way too impressive by any standard.

Taken from Bloomberg, China's trade surplus rose a bigger- than-estimated 73 percent in May from a year earlier, increasing pressure on the government to allow faster currency gains.The gap widened to $22.45 billion, the customs bureau said on its Web site.

The median estimate of 18 economists surveyed by Bloomberg News was for a $19.5 billion surplus. For the first five months, the surplus grew 84 percent to $85.72 billion.Surging exports spurred economic growth of 11.1 percent in the first quarter and drove foreign-exchange reserves to a record $1.2 trillion.

China is recording monthly growth in trade surplus and it looks like this is going to continue for a while and I dont expect this to slow down. I just wonder how big will China's national reserves be in 10 years from now. Probably they can own half the world and still have pocket change to spare.


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