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

China announced that its trade surplus reached almost $1 trillion last year, with exports exceeding imports by a record-breaking margin, drawing criticism and tariffs from trade partners worldwide. Chinese factories dominate global manufacturing, with exports of goods like cars and solar panels fueling economic growth but causing domestic economic challenges due to overproduction. The Biden administration has criticized China’s excessive investment in factory capacity, warning of the risks of producing more goods than demand.

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