China’s trade surplus soars past $1T
China’s trade surplus passed $1 trillion for the first 10 months of the year, as the country’s exports grew at record speed despite several countries putting up trade barriers.
Key points
- Beijing, meanwhile, is unlikely to accede to US and European calls to bolster its domestic demand, with one asset manager telling the South China Morning Post he did not think the country’s “macro policy stance will change significantly.” — Jeronimo Gonzalez.
Soaring fuel prices caused by the Iran war have also helped drive demand: China’s EV and plug-in hybrid exports for October surged 145% year-on-year.
Flatlining consumption at home has pushed Chinese manufacturers to find customers abroad, fueling anger in foreign markets over their domestic industries being hollowed out.
How this summary was made: extractive summary — built from the sources' own reporting. It is drawn only from the reporting of the sources listed below — read the originals for full detail. How we summarize →
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