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China’s Trade Surplus Hits Record $1T Amid Global Economic Shifts
China’s Trade Surplus Hits Record $1T Amid Global Economic Shifts
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China has announced a record trade surplus of $1 trillion, with exports totaling $3.58 trillion against imports of $2.59 trillion. This significant economic activity occurs as 23 countries apply to join the BRICS group, signaling a shift in global economic alliances. Despite the booming export sector, China faces domestic challenges including a housing market crisis and reduced consumer spending.
