China Trade Surplus Falls Sharply to $6.9 billion in March 

China's trade surplus in March fell to $6.9 billion, well below forecasts and down sharply from February's $23.7 billion surplus, reports AP. It was not clear whether the drop in March was the result of government efforts or would have a lasting impact.

Last year, China reported a record-high global trade surplus of $177.5 billion. Economists expect the figure to soar past $250 billion in 2008.

The U.S. government announced Monday it would file two WTO cases over Beijing's failure to stop product piracy and complaints it blocks market access for U.S.-produced movies, music and books.

China is one of the world's biggest sources of illegally copied goods ranging from movies, music and designer clothes to sporting goods and medications. 

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