China nears record US$1 tril trade surplus as Trump returns
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China's trade surplus is projected to reach nearly US$1 trillion in 2024; surplus hit US$785 billion in first 10 months, up 16% from 2023; Brad Setser notes significant export volume growth; reliance on exports increases due to weak domestic demand; foreign direct investment liabilities dropped, risking first annual net outflow since 1990; US tariffs expected under Trump administration; surplus with US rose 4.4%, EU by 9.6%, and ASEAN by 36%; trade surplus with India reached US$85 billion, up 3% from 2023; currency war concerns as India may let rupee weaken.

#China #TradeSurplus #Trump #Economy #Exports #Imports #Fdi #Tariffs #CurrencyWar #Asean

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