China's Trade Surplus Rises to $27.1 Billion in October

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http://www.nytimes.com/2010/11/11/business/global/11yuan.html

China's Trade Surplus Rises to $27.1 Billion in October
By ANDREW JACOBS

BEIJING — China’s trade surplus surged to $27.1 billion in October, providing fodder for political tensions a day before the Group of 20 leaders were set to tackle a framework to correct the trade imbalances that economists say threaten the global recovery.

The rise is in marked contrast to the September figures, when China’s trade surplus, down 15.7 percent from the previous month, was at its smallest in nearly half a year.

Exports rose 22.9 percent from a year earlier to $135.98 billion in October, the state-run news agency Xinhua said Wednesday, which was in line with Reuters economists’ forecasts of 23.5 percent growth. Imports rose 25.3 percent from a year earlier to $108.83 billion.

As the Group of 20 leaders prepare to meet in Seoul on Thursday and Friday, China’s latest trade surplus figures are likely to give more ammunition to critics who say the country doesn’t do enough to encourage domestic consumption