The U.S. Department of Commerce Department calculates that America’s service sector had a $3.7 billion trade surplus with China last year. In 2005 the surplus was $2.4 billion, up from $515 million in 1992. And by one measure, America’s service-trade surplus could reach $15 billion a year by 2015. China is now the ninth largest [...] Read more »

BBC Business reports that East Asia is set for strong growth in 2008 as domestic demand offsets high crude oil prices according to the World Bank says. China’s economy will grow by 10.8%, down from 11.3% in 2007. East Asia, excluding Japan, is seen growing 8.2% in 2008 from 8.4% in 2007. East Asia includes [...] Read more »