China’s Trade Surplus Hit Record in 2021—With Exports Jumping 30% Amid Pandemic Demand
The country’s monthly trade surplus in December swelled 20.8% over a year earlier to a record $94.4 billion, customs data showed Friday. The surplus with the United States, one of the irritants behind a lingering U.S.-Chinese trade war, rose 25.1% in 2021 over a year earlier to $396.6 billion. Trade envoys have talked since President Joe Biden took office in January but have yet to announce a date to resume face-to-face negotiations.
This month, China’s global export volumes are likely to weaken due to congestion at ports where anti-coronavirus restrictions are imposed and to changes in global demand as shippers clear backlogs, said Julian Evans-Pritchard of Capital Economics. Economic growth weakened in the second half of the year as Beijing carried out a campaign to reduce what it sees as dangerously high debt in the real estate industry, but consumer spending was above pre-pandemic levels.
Earlier, forecasters said Chinese exporters would benefit from the spread of the latest variant, omicron, which Beijing appeared to be keeping out of the country. More recently, however, China has responded to outbreaks within its own borders by imposing travel restrictions on major cities including Tianjin, a manufacturing center where omicron was found.
Trumps failed tariff strategy contributed to a 40.5% increase in U.S. trade gap which not only negatively impacted business for our manufacturing & agriculture industries, but made us significantly more reliant on importing goods. And then came the global supply chain crisis!
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The reasons why Chinese eat bats and everything
The country that benefitted most from the pandemic is also where the pandemic originated! Its a shame no one talks enough abt it.
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Ahem this is 'what a waste' is all about. So the Chinese are building some 66 Coal-fired plants. Some of Y is U.
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Created the problem Profit directly from the problem Chinese business models.
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'Hey Needles...' 'Stop Playing With It Or You'll Go Blind!' 'Codpiece Confederacy Coup' POTUS kyrstensinema Sen_JoeManchin VotingRightsAct USHistory
It’s pretty apparent that Democrats will no longer be able pass any more bills this year because of Joe Manchin and Kyrsten Sinema. It’s over. —The DOJ needs to indict Trump for seditious conspiracy. — Biden should cancel all student debt. —Enforce all J6 subpoenas
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