Originally published on Thu March 15, 2012 9:08 am
China's central bank is sitting on a giant pool of U.S. dollars. It's the world's biggest holder of foreign reserves, worth over $3 trillion at last count.
All that money has piled up because every year, China exports more than it imports; it runs a trade surplus.
There are lots of reasons for China's trade surplus. In the past few decades, China has built an amazing manufacturing ecosystem. It's become the factory to the world.
Many Colorado farmers are eager for Congress to ratify three long-pending free trade deals. The US House and Senate are expected to pass the pacts with South Korea, Panama and Columbia as early as Wednesday.
Colorado Governor John Hickenlooper has joined a bi-partisan group of governors calling on Congress to ratify three long-pending free trade agreements with Panama, Columbia and South Korea.