Rolling coverage of the latest economic and financial news Global financial system is failing developing countries, says Ed Miliband China is on track to post a record high trade surplus this year, after exports soared in September. New trade data shows that China’s exports soared by 36.3% year-on-year last month, the fastest monthly increase since February.
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China’s exports, imports, and trade surplus all comfortably beat expectations in September as the trade boom continued. Key trade ties look set to remain stable through year-end, which should keep this year’s key growth engine humming. “We welcome Ed Miliband’s commitment to action on debt during the UK G20 Presidency.
He is right that the debt relief system urgently needs an overhaul. This must include deeper debt relief, a suspension of payments during negotiations and measures to ensure private lenders participate.” “Crucially, private lenders must share the cost of debt relief schemes.
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Otherwise public money will just bail out private lenders rather than be used for investment.” Continue reading...
