World News
China's Trade Surplus Tops $1 Trillion for the Second Straight Year
Weak spending at home is pushing Chinese factories to flood foreign markets, and the West is losing patience.
By GRACE WHITFIELDStaff Correspondent · WASHINGTON · Nov 10, 8:00 AM · 1 min. read
Illustration · Liberty Bell Report
China has once again sold the world over $1 trillion more than it bought.
China's trade surplus passed $1 trillion for the second year in a row, according to the latest customs data. NBC News reported exports surged 35%.
Semafor reported that flat consumer spending inside China has pushed manufacturers to find customers abroad, fueling anger in foreign markets.
The numbers underline a long-running imbalance with the West. When Chinese factories cannot sell at home, they cut prices and ship overseas, undercutting American and European makers of everything from steel to electric cars.
World Watch's take: a trillion-dollar surplus is not a sign of fair trade. Expect it to sharpen the fight over tariffs in Washington, especially with a new Congress arriving in January.
Sources
— 30 —
