“China’s Imports is a Source of Support for the Global Economy”

BusinessWeek reports that China Trade surplus fell making many believe that China is not just an exporting country anymore.

Imports rose a more than 44.7 percent from a year ago, the Chinese customs bureau reported on its Web site today. The surplus was $7.61 billion, and exports gained 45.7 percent.

“The sustained strength in China’s imports is a source of support for the global economy,” said David Cohen, an economist with Action Economics in Singapore.

On March 6th, Commerce Minister Chen Deming said that the trade surplus fell 50.2 percent in January and February from a year earlier, adding that domestic demand had boosted imports. He said it was too early to say if exports had recovered from the global financial crisis.

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