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July’s Trade Surplus Surge

The trade surplus continues to rise, with another hot month in July. According to Bloomberg:

The article also notes that:

It seems that interest rate rises, export tax tinkering, and stock market warnings [1]have so far done little to cool growth. US pressure on the RMB can be expected to grow in line with China’s trade surplus, but it remains to be seen what further measures the Chinese government (and the US one) will take.

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