Chinese trade on its head
Hi again Everyone! Did you guys hear about China's trade? Something exciting happened lately in their trade balance (anyone remembers what that might be). Can anyone find out what and why? It's definitely a sign of great progress in this Economy.
This year, China had a trade deficit for the first time in Decades!!!!! It means it imported more than it exported, which is a HUGE shift in their development strategy. China is finally moving up the development latter and may move from a low income country to a medium income country very rapidly. It may even get to the rich club if it continues its great Economic reforms (especially if it adds up political reforms). Long Live China!