China's Trade Surplus Reaches a Record of Nearly $1 Trillion

[mahatmakanejeeves]

China’s Trade Surplus Reaches a Record of Nearly $1 Trillion

China’s vast exports in 2024 exceeded its imports on a scale seldom seen anywhere except during or immediately after the two world wars.


BYD electric cars waiting to be loaded onto a ship at Taicang Port in Suzhou, China. China’s exports of everything from cars to solar panels have been an economic bonanza for the country. Agence France-Presse — Getty Images

By Keith Bradsher
Keith Bradsher, who began covering China trade issues in 1991, reported from Beijing.
Published Jan. 12, 2025
Updated Jan. 13, 2025, 4:57 a.m. ET

China announced on 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 J. Trump, who will take office next week, has threatened to escalate already aggressive American trade policies aimed at China.

{snip}

Keith Bradsher is the Beijing bureau chief for The Times. He previously served as bureau chief in Shanghai, Hong Kong and Detroit and as a Washington correspondent. He has lived and reported in mainland China through the pandemic. More about Keith Bradsher

[SWBTATTReg]

1. So, the Chinese have accumulated tons of money from literally every Country on Earth. Before any of these

RW fanatics go pounding on their drums about the 'awful' Chinese trade imbalance, remember this, that if China tries to wield this as a club, it'll going to cost them (China) big time, since the money they try to dump (excess dollars etc., other such things that RW fanatics proclaim all of time), who in their right mind would dump the money? It would cost China a boatload of money if they tried to dump all of these excess currencies onto the markets, in trying to crash world economies.

Just a quick tip, in advance of the RW fanatic's usual list of gripes. As w/ most of the RW's gripes, they have no fact in basis, and wouldn't make sense for the Chinese to throw away good money just to 'teach' America a lesson. America, as it turns out, is one of China's best customers and vice versa. It does take two to tango.

[Irish_Dem]

2. China's very large number of manufactured goods is causing them to do "dumping."

They flood the global market with Chinese goods priced at artificially low prices.
Threatening global domestic manufacturers. This causes these countries to place tariffs on Chinese goods
which starts a trade war and hurts the economy.

Xi has ruined the Chinese economy, now he appears to be doing the same with the global economy.