The commercial surplus of China reached a record in 2024, a symbolically powerful 1 Billion. The optics of this rounded figure – the exact number was $ 992.2 billion – contentment with the derogatory rhetoric of US President Donald Trump concerning China’s status as a commercial creditor and his declared objective of using Prices for reducing the American trade deficit.
In particular, Trump did not mention China in its advertisements on the imminent prices increased shortly after its inauguration of January 20, rather appointing Canada and Mexico as subject to prices up to 25% by the February 1.
Meanwhile, Chinese Deputy Prime Minister Ding Xuexiang said at the Davos World Economic Forum in Switzerland: “We are not looking for [a] Commercial surplus. We want to import more competitive quality products and services to promote balanced trade. »»
Trump, for his part, reportedly told aid shortly before his inauguration that he wanted to visit Beijing at the start of his mandate, suggesting the possibility of an agreement between equals rather than a unilateral action in the case of China.
The commercial surplus of China has increased considerably from the COVVI-19 pandemic, driven by a significant depreciation of the real effective exchange rate of the country, supporting the growth of exports and the demand for depressing import.
“Macroeconomic factors stimulate these external developments,” wrote IMF economists in a September note. “These are in particular negative shocks of domestic demand in China, due to the slowdown of the real estate market and the low confidence of households, as well as a shock of dissociation in the United States due to high expenses of the government and people. “
China’s December export growth has confused market expectations, increasing by 10.7% in annual sliding via 335.6 billion dollars in exports for an booming growth rate of 5.9%, according to Dutch Bank ING data. Exports to the United States jumped 15.6% in December to a summit of 30 months, partly partly by loading before the possible rates, while those of the Anase countries increased by 18, 9%.
The remaining growth in the United States and the Anase, the demand for Chinese exports-which were dominated by ships (57.3%), semiconductors (17.4%), self-self (15%) and household appliances (14.1%) – seems likely to be persisted.