The Wall Street Journal-20080111-Politics - Economics- In Brief
Return to: The_Wall_Street_Journal-20080111
Politics & Economics: In Brief
China's Trade Surplus Soars
Despite Product Recalls
China's global trade surplus soared nearly 50% last year to a record despite an avalanche of safety warnings and recalls of Chinese-made products abroad, according to data reported Friday. The sharp rise could add to pressure on Beijing to act on currency controls and import barriers, possibly fueling demands by some American lawmakers for trade sanctions. The annual trade surplus ballooned to $262.2 billion, up 47.7% from 2006, the official Xinhua News Agency said, citing the General Administration of Customs. That was below the $300 billion figure forecast by some Chinese economists but still represented strong gains at a time of world-wide concern about the safety of Chinese goods. Details on China's trade gap with the U.S. and other countries weren't immediately released.
-- Associated Press
More Gloomy Data in Japan
Foreshadow Slowdown
Japan's economy is on an unstable footing and the outlook is increasingly gloomy against the backdrop of a U.S. downturn and higher oil prices, according to new government data. The index of leading economic indicators, which provides a reading on future economic output, stood at 10 in November, remaining below the boom-or-bust threshold of 50 for the fourth straight month. A separate index that measures the current state of the economy stood at 33.3 in November, which was lower than October's revised 70 and marked the first fall below 50 in eight months. Analysts say rising crude-oil prices, as well as concern about the health of the U.S. economy, have already started to weigh on corporate activity in Japan, which will hurt the economy across the board.
