China has shattered records with its trillion-dollar trade surplus for the first time in history, defying expectations that Donald Trump's administration would be able to curb the manufacturing powerhouse's exports. The latest data shows China's full-year trade surplus reached $1.189 trillion, rivaling the GDP of top economies globally like Saudi Arabia.
The Chinese government attributes its success to its diversified trading partners, particularly south-east Asia, Africa, and Latin America, which have allowed Beijing to offset US duties and maintain a strong grip on global markets. However, economists warn that China's reliance on these countries may pose risks to the economies of its trading partners.
China's exports have continued to soar, with outbound shipments growing 6.6% in value terms year-on-year in December, exceeding forecasts. The country's ability to withstand tariffs has been significantly enhanced due to its diversified trading partners, according to Wang Jun, a vice-minister at China's customs administration.
The Chinese government has taken steps to rebalance its economy by promoting imports and reducing industrial exports. This includes scrapping subsidy-like export tax rebates for the solar industry, which was a point of friction with EU states.
Lawmakers in China have passed revisions to the foreign trade law, signaling that Beijing is prepared to shift from industrial subsidies towards freer, more open trade. However, US duties on Chinese goods remain high at 47.5%, well above the level analysts say enables Chinese firms to export to the US at a profit.
Despite these challenges, China's economy appears to be gaining global market share this year, thanks in part to Chinese firms setting up overseas production hubs that provide lower-tariff access to the US and EU. The country's car-making industry saw significant exports growth last year, with pure EV shipments rising 48.8%.
The Chinese government attributes its success to its diversified trading partners, particularly south-east Asia, Africa, and Latin America, which have allowed Beijing to offset US duties and maintain a strong grip on global markets. However, economists warn that China's reliance on these countries may pose risks to the economies of its trading partners.
China's exports have continued to soar, with outbound shipments growing 6.6% in value terms year-on-year in December, exceeding forecasts. The country's ability to withstand tariffs has been significantly enhanced due to its diversified trading partners, according to Wang Jun, a vice-minister at China's customs administration.
The Chinese government has taken steps to rebalance its economy by promoting imports and reducing industrial exports. This includes scrapping subsidy-like export tax rebates for the solar industry, which was a point of friction with EU states.
Lawmakers in China have passed revisions to the foreign trade law, signaling that Beijing is prepared to shift from industrial subsidies towards freer, more open trade. However, US duties on Chinese goods remain high at 47.5%, well above the level analysts say enables Chinese firms to export to the US at a profit.
Despite these challenges, China's economy appears to be gaining global market share this year, thanks in part to Chinese firms setting up overseas production hubs that provide lower-tariff access to the US and EU. The country's car-making industry saw significant exports growth last year, with pure EV shipments rising 48.8%.
like totally not surprised lol! China has always been a manufacturing powerhouse 
and now they're crushing it with that trillion-dollar trade surplus 
I mean, can you blame them for diversifying their trading partners tho? 
They're smart to offset those US duties 
and maintain their grip on global markets 
. And yeah, I know some economists are worried about the risks to other economies 
but let's be real, China is a major player now and they deserve our respect 
.
. And let's not forget those EV shipments 
, 48.8% growth? That's insane! 
It just goes to show that China is committed to leading the way in sustainable energy 
. Anyway, US duties may still be high 
but I think China will keep on thriving 
i mean, $1.189 trillion trade surplus? that's crazy! 
i've been saying it for ages, china is the real deal and trump's admin can't touch them 
they're like a manufacturing powerhouse with a gazillion trading partners, who needs enemies when you have friends 
like south east asia, africa, and latin america? perfect! 
china's diversified trading partners are literally the secret sauce to their success 
i'm not surprised they're surpassing saudi arabia's GDP 
Anyways, China's trying to shift towards more open trade by scrapping those export tax rebates... good move i guess 
. i mean, diversifying their trading partners makes sense, but you have to wonder about the impact on those countries 
- 47.5% is still pretty steep 
.
. they're making moves to rebalance their economy, promoting imports and reducing exports 
. it looks like china is ready to shift gears and go for more open trade 
!
But seriously, what are the risks here? Are we looking at a global economic domino effect if China's reliance on these countries gets too strong? 
It's all very interesting...
. And don't even get me started on how China is using its diversified trading partners to offset US duties. It's like they're trying to create a whole new economic order 
. I mean, what's the real agenda here? Are we just going to keep letting them do whatever they want and hope for the best? 
. And let's be real, who doesn't love a good EV trade boom? Those pure EV shipments are like 48.8% and still growing 
. China's got this trade surplus thing down pat, so let's give it up for them 
! 
! Their trade surplus just hit trillion dollars 
and a mask 
!
, like how relying on SE Asia, Africa, and Latin America might affect the economies of these countries 
.
. They're getting rid of those subsidy-like export tax rebates for solar industry 
.
providing lower-tariff access 
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. Everyone's always talking about how great it is for Chinese exporters, but what about the economic risks to their trading partners? 
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. And now China's trying to rebalance its economy by promoting imports and reducing industrial exports? It sounds like they're just spinning their wheels 
.
. At least they're trying to open up trade now, which is a good step in the right direction 
...
. but seriously though, it raises some concerns for the economies of those countries they're doing a lot of business with 
. but still, 47.5% us duties are kinda harsh 