China Posts Another Record Trade Surplus
June 20, 2006
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June 20, 2006 – China’s trade surplus hit a record $13 billion in May, providing further evidence the Chinese government must take additional measures to strengthen their currency.
By undervaluing their currency by up to 40 percent over the last decade, China has cost the U.S. thousands of manufacturing jobs. The artificially low yuan also led to the U.S.’s record $202 trade deficit with China last year.
