China’s Trade Surplus Reaches $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,” the New York Times reports.

“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.”

Wall Street Journal: China’s export boom means Trump tariffs would hit Beijing where it hurts.