Description
President Obama and President Xi are expected to discuss strengthening economic ties at their upcoming summit. This chart shows the year-over-year growth of the monthly exports, imports, and trade balance of merchandise goods since the onset of the global financial crisis; service trade is not included here, which the United States had a bilateral surplus of $71 billion in 2014. Since January of this year, China has imported fewer goods from the United States each month compared to the previous year, although the pace of the drop has decelerated in recent months. This has led to an expansion of China’s bilateral merchandise trade surplus with the United States, reaching $166 billion at the end of August. This bilateral surplus is in large part responsible for China’s expanding current account surplus, which will likely top 3 percent of GDP this year.
Source: Wind Info
