GLOBAL ECONOMICS WEEKLY
Chimerica rebalances
• Global trade flows have already recovered 50% of their post-Lehman collapse, and we expect this process to continue.
• Beyond the surge in flows, a process of global trade rebalancing is also self-evident, consistent with data released from China and the US during the past week.
• With Chinese authorities signaling that the current peg is under review, we expect China to move to a gradual pace of currency appreciation starting as early as April.
28361581 BARLAYS Global Economics Weekly Chimerica Re Balances Mar 12 2010
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