 "China exports")
It is now common knowledge that China is the world’s manufacturing and trade powerhouse, running a goods trade surplus of $1 trillion — an unprecedented magnitude. The surplus has almost tripled since the pandemic. China runs a trade surplus of over $300 billion with the US, more than $200 billion with the EU, and almost $500 billion with the Global South (the Emerging Market universe). The only countries with which China has a trade deficit are Taiwan and South Korea, due to chip and electronic component imports, and Australia, because of commodity imports.
As the world’s factory, China accounts for
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