Posted on 01/13/2025 1:46:14 AM PST by Cronos
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.
(Excerpt) Read more at nytimes.com ...
That reminds me I need to send my Temu order in. Thanks for the reminder.
I’m going to try to keep track of all the bad economic news and the current state of the union at the end of the Biden presidency, for when they will try to blame all of this on Trump.
The Trump-Navarro case for tariffs and other measures on China’s economy becomes ever stronger.
I can believe that China has a trade surplus. I cannot believe it is $1T. If it were, the dollar would be in the tank and the RMB overpriced, rather than the other way around.
Because China produces a third of the engineers in the world every year, and Chinese are extremely hard working.
Meanwhile Biden is busy churning out specialists in trans nonsense "studies", DEI jokers etc etc.
Without Musk, China would be ahead of America in the space race right now, with a Chinese rover on both Mars and the moon as we speak and China with their own Space station.
I remember well the defending arguement for NAFTA and GATT... “Let the other countries become wealthy so they can start buying from us!!”
Does Wal Mart Mislead On What It Imports From China?
Post 2, "And the reason that I should lay awake nights worrying about what Wal-Mart imports is???"
Post 5, "Maybe. Why do I care? Is it illegal? Immoral? Unconstitutional? Would I get a better deal otherwise?"
Post 9, "yeah whatever....just go ahead and bash WalMart. This is how the world works and I kind of like the low prices myself...."
Post 30, "but the pseudo communists always come out of the woodwork in a WalMart thread...." (you have to follow the thread to get this one).
Post 56, "Why is this even important? Why should we care what % of their inventory they import whether it be from China or any other country?"
Post 79, "Translation: I won't answer this because my answer would call for protectionism and this would lead to another debacle along the lines of that which occurred when Smoot-Hawley was enacted to "fix" the economy in the 1930's."
Post 94, in reply to post 79 above, "That sums up the mindset of the Wal-Mart bashing brigade here."
China June trade surplus swells five-fold
Post 255, "Why should I pay higher prices for any item, just to satisfy someone else's concept of fair trade."
Post 287, "This applies to the anti-free traders also. USA - we've got ours, screw you. No you can't have access to our markets, we want to keep you poor."
Post 301, "So far I have been accused of being a communist chinese plant to influence Free Republic for taking the free trade position. (So far) Now Free Trade advocates are being lumped with the Islamofacists? I'm building quite the resume!"
In my circles at the time, the most outspoken support for Free Trade was none other than our own skilled trade unions(Detroit). thats what really blew my mind.
Well, we gave them all the technology and know how!
Don’t pay them and tell them to piss off.
We’ll just make it in the USA.
No numbers coming from China can be believed.
The capability for china to collect accurate numbers no longer exists
>Well, we gave them all the technology and know how!
The only thing given was nuclear secrets/know-how by Clinton. Everything else they’ve gotten is usually via corporate espionage, hacking+
Have, as of yet, to hear of any repercussions of China’s steel dumping ala Mexico/S. America during Trump’s 1st term to today
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