Trade surplus projected to shrink

China’s customs authority predicted on its website that the rapid rise of its trade surplus would be reversed in 2008 as exports slow and imports accelerate, AFP reported. The General Administration of Customs cited the "clear acceleration" of the renminbi’s value, as well as lower overseas demand driven in part by a weakening US economy. China’s trade surplus, which has risen 10-fold since 2003, is commonly pointed out by trading partners who argue that its currency is undervalued.