BEIJING, Aug. 31 (UPI) -- China's global balance of trade surplus is expected to quadruple this year, a private U.S. group says.
The Manufacturers Alliance/MAPI, a policy-research group in Arlington, Va., predicted that China's surplus could hit $140 billion this year, up from last year's $32 billion, the Wall Street Journal reported Wednesday.
Such a large increase is expected to produce yet more pressure on Beijing to let its currency fully engage with the global currency market.
"That doesn't mean the Chinese will succumb, but the pressure is definitely growing," said Todd Lee, a China specialist at Global Insight, an economic forecasting and consulting firm in Lexington, Mass.
