Examine the data below showing British money spent of resources from China and money earned on goods sold to China.
"Our purchases for the year ending June 30, 1838, for teas, silk, and all other articles, amount to 3,147, 481.
Our sales of opium, metals, and cotton, to (China) 5,637, 052."
Based on the data, which of the following best describes Britain's trade balance with China?
Britain is losing money and has an negative trade balance with China.
O Britain is making a profit and has a favorable trade balance with China.
O Britain is losing money and has a positive trade balance with China.
Britain is making a profit and has a negative trade balance with China.
Did Britain have a positive or negative trade balance