China has recorded its first monthly trade deficit in almost six years.
Officials blame the $7.2bn (£4.7bn) deficit on rising volumes and prices of the raw materials the country needs to import to power its economy.
The officials, who announced the figures at an economic conference in Hainan, say the deficit is likely to be a short-term phenomenon.
It comes amid continuing US claims that China's currency controls keep the yuan's value artificially low.
Chinese officials were preparing the ground for this announcement even before the customs agency announced the March trade figures.
The deficit for March was China's first since a $2.3bn deficit in April 2004.
BWAHAHA!
Seriously: "trade deficits" are BS - an imaginary number of no real meaning.
China no more has a deficit with her trading partners than you have a deficit with your grocer when you trade a MONEY ASSET for a GOODS ASSET.
AND ANOTHER THING: This deficit tells you how quickly things can change - even on a global economic scale.
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