China’s Record Trade Surplus Fuels Export-Driven Growth Amid Global Trade Tensions

China's trade engine roared back in November with a $112 billion surplus, the third-largest monthly figure on record. Exports surged 5.9% year-on-year as machinery and electronics shipments jumped nearly 10%, offsetting continued declines in consumer goods. This export resilience comes despite a 29% plunge in US-bound shipments - the steepest drop since August.

The EU and African markets absorbed China's redirected trade flows, maintaining factory output at elevated levels. This trade gap is now propping up GDP growth as domestic consumption falters, with retail sales growth at its weakest since 2021 and investment contracting.

For crypto markets, these macroeconomic crosscurrents matter. Bitcoin and ethereum often benefit from dollar weakness stemming from large trade imbalances, while industrial-focused altcoins like FIL (Filecoin) and RNDR could see upside from continued Asian manufacturing strength. Exchange tokens like OKB and BNB may find support from increased commercial hedging activity.