business

China's trade surplus swells to $877.6 bil as exports grow

27 Comments
By JOE McDONALD

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"China's foreign trade and exports showed strong resilience in the face of many difficulties and challenges," said a customs agency spokesperson, Lu Daliang, at a news conference.

Indeed. Anything that a loyal "spokesman" says should be taken with a pinch of salt. Anyone with an iota of knowledge of Chinese history should know that.

I'll wait for independent international experts to give their thoughts before I get the champagne out.

2 ( +4 / -2 )

Excellent, China grows, grows and grows..

China will reach the first world economic place in a couple of years..

GO CHINA !!..

-3 ( +2 / -5 )

China's trade surplus swelled to a record $877.6 billion last year as exports rose despite weakening U.S. and European demand and anti-virus controls that temporarily shut down Shanghai and other industrial centers.

Looks like China's economy is going well.

Meanwhile, much of the West is in the verge of another recession.

-3 ( +2 / -5 )

China's economy is going well.

Indeed. Look around, you'll find more "less-woke alternative" information on that.

For example, when China suddenly reversed course on its “zero Covid” strategy a month ago, (after protests that some said would go nowhere) this latest about-face is acknowledgment of the fragile state of the nation’s economy and waning political control.

Growth is at its slowest rate in decades, hampered by a property market in crisis, a lack of promising jobs for young people, consumer confidence shaken by years of rigid Covid policies and depleted local government coffers. Not a " going well picture" at all

Meanwhile, much of the West is in the verge of another recession.

Yawn. Nothing new there. Got anything else?

This is too easy. Just copying and pasting the facts as they are. Some might ask why does Elvis bother?

Need to resist people who push “extreme fringe” views, which are “misguided”, “dangerous” and could mislead the public.

2 ( +3 / -1 )

Economists say the only comparison for China's vast trade surplus as a percentage of its economy was Saudi Arabia and other oil exporters during their 1970s price boom, but their total revenues were smaller.

This is truly a historical economic achievement.

Meanwhile, Western countries such as New Zealand, Australia, and the UK, which pre-maturely abandoned their Covid strategies and went into recession, are struggling to put together cohesive economic revival programs.

-4 ( +0 / -4 )

Economists say the only comparison for China's vast trade surplus as a percentage of its economy was Saudi Arabia and other oil exporters during their 1970s price boom, but their total revenues were smaller.

1970s? 50years ago? No source means no point. Don't post more biased unsubstantiated claims. It's annoying.

Meanwhile, Western countries such as New Zealand, Australia, and the UK, which pre-maturely abandoned their Covid strategies and went into recession, are struggling to put together cohesive economic revival programs.

Yawn! Nothing new there.

2 ( +2 / -0 )

Meanwhile, Western countries such as New Zealand, Australia, and the UK, which pre-maturely abandoned their Covid strategies and went into recession

If the recession came while under the outaded, unsustainable covid strategies then your argument do not hold, specially when other factors are obviously also affecting the economies, not just covid.

0 ( +1 / -1 )

Meanwhile, Western countries such as New Zealand, Australia, and the UK, which pre-maturely abandoned their Covid strategie

Indeed. Talking about "pre-maturely"...

Some 900 million people in China have been infected with the coronavirus as of 11 January, according to a study by Peking University and Chinese vaccines are known to be no good 

And...

The report estimates that 64% of the country's population has the virus already and

unfortunately...

International health experts have predicted at least a million Covid-related deaths in China this year.

That is pre-mature and nothing to gloat about it gloss over. Three years in, with no exit plan lifting restrictions now is pre-mature. A humanitarian disgrace, too.

But you know that already. I've got time, so I fancy responding to you provocative comment. Try harder next time. You might touch a nerve ( but doubt it)

0 ( +1 / -1 )

Some 900 million people in China have been infected with the coronavirus as of 11 January, according to a study by Peking University and Chinese vaccines are known to be no good

Up from 250 million at the end of last month.

-1 ( +1 / -2 )

Up from 250 million at the end of last month.

Indeed. So the more reliable sources say.

A humanitarian disgrace of disgusting proportions.

I can't believe anyone could serious think 2.5 to 3 years in, that zero-covid was the best policy.

0 ( +2 / -2 )

If the recession came while under the outaded, unsustainable covid strategies then your argument do not hold, specially when other factors are obviously also affecting the economies, not just covid.

This is just your personal opinion with no basis in economic reality.

-1 ( +2 / -3 )

This is just your personal opinion with no basis in economic reality.

No, it is not, that is precisely the point, anybody can easily see when where those economies more severely affected and it was not after they abandoned the policy but while under it, which completely contradicts your point.

Not to mention the fact that you have failed to provide any reference where the covid policy is blamed for the current condition of the economies you used as an example. That is what is your personal opinion that not only has no basis, it is contradicted by economic reality.

-1 ( +0 / -1 )

And yet Al Jazeera are reporting the opposite, that China's exports shrank 9.9% compared to December 2021 and imports fell by 8.7%. Al Jazeera also notes that for November, exports shrank 8.7% and imports fell 10.6% compared to November 2021.

https://www.aljazeera.com/economy/2023/1/13/chinas-imports-exports-plunge-in-warning-sign-for-economy

2 ( +3 / -1 )

Desert TortoiseToday  03:39 pm JST

And yet Al Jazeera are reporting the opposite, that China's exports shrank 9.9% compared to December 2021 and imports fell by 8.7%. Al Jazeera also notes that for November, exports shrank 8.7% and imports fell 10.6% compared to November 2021.

Al Jazeera, or the Associated Press.

No contest.

China's trade surplus swelled to a record $877.6 billion last year 

© Copyright 2023 The Associated Press.

No, it is not, that is precisely the point, anybody can easily see when where those economies more severely affected and it was not after they abandoned the policy but while under it, which completely contradicts your point.

Repeating the same error twice doesn't make it true and neither does denying it is your personal opinion. You show know source or otherwise supporting your mistaken claim.

Not to mention the fact that you have failed to provide any reference where the covid policy is blamed for the current condition of the economies you used as an example. That is what is your personal opinion that not only has no basis, it is contradicted by economic reality.

Staying on point, you show no source to back up your outrageous nonsensical claim.

So, you admit you cannot validate your opinion with any source.

-3 ( +2 / -5 )

The career number cruncher in my is wondering how a nation posts a record trade surplus when their imports and exports have both fallen compared to the year prior. Something doesn't seem right.

3 ( +4 / -1 )

Excellent, China grows, grows and grows.. 

China won’t survive this decade,

China will reach the first world economic place in a couple of years..

do you mean it’ll become the world’s top economy ?

If it does, it won’t last long

GO CHINA !!.

yes China, go away !!

0 ( +0 / -0 )

Maybe the imports and exports have risen as it says in the article

0 ( +0 / -0 )

Something doesn't seem right.

Well said Mr tortoise

0 ( +1 / -1 )

Repeating the same error twice doesn't make it true and neither does denying it is your personal opinion. You show know source or otherwise supporting your mistaken claim.

There is no error, since you have already given up trying to defend this point then it is perfectly valid to make it again. You claimed without proof that the economies were worse after the lockdowns than while under them, and that covid was the only factor that affect the economies, both things are false.

Staying on point, you show no source to back up your outrageous nonsensical claim.

When the argument is that your claims are baseless then the only source necessary are your comments that bring no support for those claims you made. The complete lack of references to prove both of your claims is the source that prove them baseless, and since you keep commenting without bringing them that only make it more and more clear they are mistaken.

0 ( +1 / -1 )

A trade surplus is actually not one of the better ways to gauge how well an economy is doing

For ex: the last time the US had trade surpluses was................... in the late 2000s............. during the Great Recession

(The consumers were buying less goods, including foreign goods, because they're in a recession. Thus imports shrank a lot, going below exports - resulting in a trade surplus. But it's due to weak consumer market. Same thing could be happening in China, due to the Covid restrictions weakening consumers spending.)

0 ( +0 / -0 )

People really are blind when it comes to their biases.

Exports increased 7% from a year earlier to $3.95 trillion, decelerating from 2021's explosive 29.9% gain, customs data showed Friday. Imports edged up 1.1% to 2.7 trillion, cooling from the previous year's 30.1% rise as economic growth slowed and consumer spending weakened.

0 ( +0 / -0 )

Anyone who has bought anything from AliExpress knows why China can export so much. Low costs sell products and government assisted shipping keeps it possible to buy stuff cheaper from China than you can from retailers in the USA. The downside is the long wait times for shipping. You also have to be discerning as there are some very bad deals mixed in with the great deals. There is also the problem that advertising is often just plain false. What they use to get your attention is often an outright fabrication based on what they think you want.

Look at power inverters. Insanely high advertised wattages that when you look at the actual specifications are just not true.

Clothing can be a bargain but sizes and shipping costs have to be carefully watched or it is no bargain at all.

You also have to look at how long a store has been in operation. Many stores last only weeks and then close. Lucky AliExpress gives you the information to make reasonable decisions if you take the time to look for it.

AliExpress also gives insight into how much the USA and other countries mark up items from China and then resell them as their own. You can often find the exact same products on AliExpress and Amazon and compare prices.

It is also worthwhile to examine the reviews from both places as in some cases you can find out that whatever you wanted to buy is just not true as it shows numerous reviews about never receiving or receiving something either wrong or not working.

Chinese merchandise exemplifies "Let the buyer beware".

2 ( +2 / -0 )

People really are blind when it comes to their biases.

Exports increased 7% from a year earlier to $3.95 trillion, decelerating from 2021's explosive 29.9% gain, customs data showed Friday. Imports edged up 1.1% to 2.7 trillion, cooling from the previous year's 30.1% rise as economic growth slowed and consumer spending weakened.

Where does this come from? The data in this article and in the article in Al Jazeera both show 2022 export and imports falling from the same month levels in 2021.

2 ( +2 / -0 )

The data in this article and in the article in Al Jazeera both show 2022 export and imports falling from the same month levels in 2021.

Indeed. The only going up in China is covid infections.

Almost 60,000 people have died of Covid in Chinese hospitals since early December when the country relaxed its strict lockdown restrictions, authorities have announced.

https://www.theguardian.com/world/2023/jan/14/nearly-60000-people-have-died-of-covid-in-china-in-past-five-weeks

1 ( +1 / -0 )

It depends on where the news source is coming from.

0 ( +0 / -0 )

People really are blind when it comes to their biases.

Exports increased 7% from a year earlier to $3.95 trillion, decelerating from 2021's explosive 29.9% gain, customs data showed Friday. Imports edged up 1.1% to 2.7 trillion, cooling from the previous year's 30.1% rise as economic growth slowed and consumer spending weakened.

Where does this come from? The data in this article and in the article in Al Jazeera both show 2022 export and imports falling from the same month levels in 2021.

It's the second paragraph of this article

0 ( +0 / -0 )

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