China’s trade surplus reaches a record of nearly $1 trillion

This post was originally published on The Economic Times

China announced Monday that its trade surplus reached almost $1 trillion last year as its exports swamped the globe, while the country’s own businesses and households spent cautiously on imports.When adjusted for inflation, China’s trade surplus last year far exceeded any in the world in the past century, even those of export powerhouses like Germany, Japan or the United States. Chinese factories are dominating global manufacturing on a scale not experienced by any country since the United States after World War II.
The outpouring of goods from Chinese factories has drawn criticism from an ever-lengthening list of China’s trade partners. Industrialized and developing countries alike have erected tariffs, attempting to slow the tide. In many instances, China has retaliated in kind, bringing the world closer to a trade war that could further destabilize the global economy.
President-elect Donald Trump, who will take office next week, has threatened to escalate already aggressive American trade policies aimed at China.

On Monday, China’s General Administration of

Read the rest of this post, which was originally published on The Economic Times.

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