When adjusted for inflation, China's trade surplus last year far exceeded any in the world in the past century, even those of export powerhouses like Germany, Japan, or the United States. Chinese factories are dominating global manufacturing on a scale not experienced by any country since the United States after World War II.
The outpouring of goods from Chinese factories has drawn criticism from an ever-lengthening list of China's trade partners. Industrialized and developing countries alike have erected tariffs, attempting to slow the tide. In many instances, China has retaliated in kind, bringing the world closer to a trade war that could further destabilize the global economy.
This story is from the January 14, 2025 edition of Financial Express Chandigarh.
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This story is from the January 14, 2025 edition of Financial Express Chandigarh.
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