CHINA
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From Times Staff and Wire Reports
Trade Deficit Anticipated: China will register its first trade deficit since 1989 this year, the China Daily reported. In another sign of Chinese consumers’ ravenous appetite for foreign products, Chinese imports are expected to top $100 billion this year, a 23% leap over last year, while exports are forecast to grow just 7.1% to $90 billion, the paper said. China’s appetite for cars, planes, steel, textile machinery and consumer goods helped bump up the numbers, the paper said.
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