China’s current account surplus will fall from 9.8% of GDP to 5.6% this year and 4.1% in 2010, according to the latest World Bank estimates. The forecast will potentially bolster Beijing’s resistance to appeals expected from US President Barack Obama for renminbi appreciation. A rapidly falling surplus would also signal some rebalancing of the Chinese economy. In its latest quarterly report on China, the Bank also said that growth would reach 8.4%, up from its forecast 7.2% in June, followed by 8.7% next year.
