China: China again registered a strong trade surplus in Europe, close to €25bn. Exports grew by 22.7% to $24.97bn, according to the most recent figures published by Chinese customs. This level is fractionally below the historic record set last June ($26.91bn). Since January, the surplus has been around $161.76bn, almost at its 2006 record level of $177.47bn. Wang Tao, an economist at the Bank of America said, “We expect a total of 250 billion for 2007”. Trade imbalances are a source of...