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Morning briefing: China's trade surplus widens, Japan keeps rates steady

1. China said its trade surplus has widened over the last year. Exports grew 38.1 percent in July compared to 12 months earlier while imports fell, in a sign of further weakness in demand for China's imports. Economic growth slowed from 11.9 percent in the first quarter to 10.3 percent in the second quarter.

2. Japan's central bank said it would keep interest rates steady at 0.1 percent but did not take steps to stop the rise of the yen, which is nearing a 15-year high against the dollar.

3. India continued to assess the environmental impact of a tanker collision that spilled about 500 tons of oil off the Mumbai coastline.

By Ariana Eunjung Cha  |  August 10, 2010; 8:10 AM ET
Categories:  *Morning briefing  
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Comments

Actually, imports did not fall, they increased quite a bit (22.7%), but what fell dramatically was the rate of increase.

Posted by: PtitSeb | August 10, 2010 2:42 PM | Report abuse

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