Passage 1
China is now reaching for the next rung on the economic ladder. Last fall Beijing agreed to open its markets to more U.S. goods. In return, Washington would support China’s membership in the GATT. Membership in this club, which includes

Passage 1
China is now reaching for the next rung on the economic ladder. Last fall Beijing agreed to open its markets to more U.S. goods. In return, Washington would support China’s membership in the GATT. Membership in this club, which includes all the world’s leading economies, could provide a huge boost for a low-wage export economy. Already though, China’s commercial strength is starting to worry competitors. Last year China’s trade surplus surged, buoyed by exports of toys, textiles and consumer electronics. With the U.S. Congress due to consider the renewal of China’s most-favored nation trade status in June, officials in Beijing fear the trade imbalance could surpass human rights as a source of U.S. opposition to preferred status for China. “The trade surplus itself will be the No.1 problem this year,” says one Chinese official. “After Japan, we will be first in line for retaliation.”
37.Can you find out why trade surplus would be a problem?

One country's trade surplus would be some other country's trade deficit. If it's too big, it would be a loss for the importer, both financially and economically.