The latest trade statistics from China indicate a reversal in the shrinkage of the country's trade surplus. After three years of decline, the surplus apparently went up by more than 50 percent to the equivalent of $231 billion in 2012, thanks in particular to a strong rebound of the export flow in December. Exports went up by 14.1 percent last month, as compared to the same month of 2011. In particular, they rose by 2.3 percent in Europe, by 10.3 percent in the U.S. and by 20 percent in Southeast Asia. Monthly imports grew by 6 percent, recovering from flat figures in November. All in all, preliminary data indicate that the Chinese economy expanded by nearly 8 percent in the fourth quarter of 2012, after posting slowing growth rates for seven consecutive quarters.

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