China's Trade Imbalance: A Wake Up Call to Fiscal Responsibility The news of China's record high trade surplus has sent shockwaves through the global economy, particularly among Beijing's policymakers.
Huang Qifan, former mayor of Chongqing and a vocal critic of China's economic strategy, describes the projected $1. 2 trillion surplus by year's end as "shocking.
" His reaction is striking not only for its language but also for the clear warning implicit within it: that business as usual will exacerbate trade imbalances threatening global markets.