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$70 billion, of which $58.6 billion from Sino-US trade. With its expanding of trade surplus, its eic rapid growth tinues for decades. At the same time, ese factories are famous for dumping cheap goods from advantages of its low-cost bors and poor enviro standard. After all, a is developing, much faster than EU, US, Japan or any other major power of the world. There is no doubt that a is regaining its strength and will be a major eic power in the 21st tury. What will a bring to the globalization of ey? Even for a try of 1.2 billion popution and 960 square kilometers, there is no unlimited supply of cheap bor or unlimited tolerance of enviro pollution. However, the demand of the 1.2 billion popution market in a fast-growing ey could be the powerful engine of the global ey in human history. Some of ese key officials and schors has turo pro-deficit attitude on this debate and more and more people realize that a has no responsibility to supply the world with cheap goods while the living standard of ese people are below average level. While those booming ese panies have shown their appetites for raw materials on the global market, the extravagance of ese wealthy family in cities has given hopes to global manufacturers. Most of the pressure to grow imports es from a’s trade partners, especially US and Japan. A strong wind calling for the revaluation of RMB has been blowing sihe beginning of 2003, and some even criticize a as an exporter of deftion. At the same time, huge amounts of hot money flow into a despite capital trols that strictly limit money flows into this try. ese officials have openly refused to revaluate RMB under pressure and some even say that its a spiracy to sacrifice a’s ey without bringing bes to the global ey. But those strong words against the revaluation of RMB were more or less for internal politics. The goverhen began to boost the imports to ease the pressure on the currency. Domestically, there are mo
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