Retail in Asia

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Weak Chinese exports bring first trade deficit in 6 years

China reported its first monthly trade deficit in nearly six years in March, a shift expected to be short lived and that may give Beijing only a slight respite from pressure to revalue its currency.

The USD7.24 billion trade deficit in March reported on 10 April by China’s customs administration was the country’s first since a USD2.26 billion deficit in April 2004. Though expected, it was significantly bigger than many economists had forecast. It follows four straight months of narrowing trade surpluses.

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(Source: scmp.com)