Chinas Trade Surplus Reaches a Record of Nearly $1 Trillion

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.On Monday, China’s General Administration of Customs said that the country exported $3.58 trillion worth of goods and services last year, while importing $2.59 trillion.The resulting surplus of $990 billion broke China’s previous record, which was $838 billion in 2022.Strong exports in December, including some that may have been rushed to the United States before Mr.

Trump can take office and start raising tariffs, propelled China to a new single-month record surplus of $104.8 billion.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access.If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe....