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	<title>China Financial Markets &#187; Morici</title>
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	<description>Michael Pettis&#039; finance blog...</description>
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		<title>Is the US trade deficit sustainable?  Is China’s trade surplus?</title>
		<link>http://www.mpettis.com/2009/01/13/is-the-us-trade-deficit-sustainable-is-chinas-trade-surplus/</link>
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		<pubDate>Tue, 13 Jan 2009 10:56:50 +0000</pubDate>
		<dc:creator>Michael</dc:creator>
				<category><![CDATA[Balance of payments]]></category>
		<category><![CDATA[Policy]]></category>
		<category><![CDATA[Trade protection]]></category>
		<category><![CDATA[Morici]]></category>
		<category><![CDATA[Sustainable deficit]]></category>

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		<description><![CDATA[China’s December trade figures came out and, following November’s lead, everything is moving in the wrong direction. Exports were down 2.8% (versus up 21.7% in December 2007) which although bad at least is better than the average forecast of over 4%. Within overall trade exports to Europe were down 3.5% and to the US 4.1%. [...]]]></description>
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