China: RECORD TRADE SURPLUS -- Under President Trump -- December 7, 2020

The tea leaves predicted this; we've posted several links on China over the past few days. Today: China exports generate record trade surplus.

Not just another trade surplus, BUT a RECORD TRADE SURPLUS during a pandemic.

Link here.

China’s trade surplus widened to a record in November, as global demand for the country’s goods grew even more robust.

November exports were up 21% from a year earlier, the General Administration of Customs reported Monday, accelerating from October’s 11.4% and beating economists’ 12% forecast. Imports were up 4.5%, slowing slightly from October’s 4.7% and short of the 5.3% expected by economists. The resulting $75.42 billion trade surplus topped the record set in May, when a drop in imports was the major factor.

China’s exports have topped market expectations since the second quarter, when Beijing moved to restart the world’s second-largest economy after lockdowns and Covid-19 outbreaks at the start of the year. During the pandemic, protective gear and work-from-home tech products have served as pillars for China’s overseas trade, helping it gain global market share.

From Fox Business:

China’s exports rose at the fastest pace since February 2018 in November, helped by strong global demand and as the factory recovery from the coronavirus in the world’s second-largest economy outpaced those of its major trading partners.