China sees first quarterly trade deficit in seven years

[Gerald]

China has posted its first quarterly trade deficit in seven years, as it continues efforts to rebalance its economy.

The deficit for the first three months of the year stood at $1.02bn (£622m), according to the latest data by the General Administration of Customs.

For the month of March, the country reported a tiny trade surplus of $140m.

China has been trying to boost domestic demand after criticism of its export-led growth policy over the past years.

However, demand from its key markets like the US and Europe has slowed down, as those economies recover from the effects of the global financial crisis.

China has said that it is working towards increasing domestic demand and becoming less reliant on exports to sustain its growth

http://www.bbc.co.uk/news/13013272

Note: 11 April 2011 Last updated at 03:53 GMT

[Torplexed]

Originally Posted by Vendor

China has said that it is working towards increasing domestic demand and becoming less reliant on exports to sustain its growth

Oh yeah. Every resource and commodity of any note in the world is going be selling at astronomical prices the day China becomes the world's biggest consumer market. It's already happening.