China posted its biggest trade surplus in almost five years on Sunday, as soaring exports ran ahead of modest import growth, potentially resurrecting a source of friction with the U.S.
In November, China’s trade surplus rose to $33.8 billion from $31.1 billion the month before. Exports staged a rebound, rising 12.7% from November last year, well ahead of October’s 5.6% growth. That is a positive sign for the global economy as well as China, experts said.
But imports grew a more modest 5.3% year-over-year, aggravating China’s overall trade surplus and bringing the imbalance with the U.S. to $22.4 billion for November. A persistent trade surplus has been a source of contention between Beijing and Washington and has fed China’s accumulation of a $3.66 trillion trove of foreign-exchange reserves as of the end of the third quarter.
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