Overall US Trade Deficit Down

THE United States trade deficit shrank by 12.9 percent in August, despite the fact that Japanese imports to the US surged to a record high, the US Commerce Department said yesterday.

The trade deficit in goods and services fell to $9.74 billion as American exports hit an all-time high, reflecting increases in exports of commercial aircraft, industrial machinery, computer chips, and cigarettes.

The improvement was expected to calm financial markets, which were unsettled by the sharply widening deficit in July.

Despite the overall improvement in August, the US trade deficit with Japan continued to worsen, climbing to $5.8 billion, the third highest on record.

Bankruptcy in China

THE Chinese government will allow some state-owned companies go bankrupt very soon, a senior official was quoted as saying yesterday. The State Council will issue a notice specifying which state-owned enterprises will declare bankruptcy and how to deal with their debts and employees, Wang Zhongyu, minister of the State Economic and Trade Commission, told the official China Daily.

About these ads
Sponsored Content by LockerDome

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...

Loading...

Save for later

Save
Cancel

Saved ( of items)

This item has been saved to read later from any device.
Access saved items through your user name at the top of the page.

View Saved Items

OK

Failed to save

You reached the limit of 20 saved items.
Please visit following link to manage you saved items.

View Saved Items

OK

Failed to save

You have already saved this item.

View Saved Items

OK