World
China is winning the trade war
CNN
January 15, 2021 12:02 pm
[Source: CNN]
China was already outperforming every other major world economy last year as the coronavirus pandemic upended the globe.
It looks like the country’s relatively sure footing also gave it the edge in its trade war with the United States.
The world’s second-biggest economy closed out 2020 with an overall trade surplus of $78 billion for December.
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China’s overall surplus for the year hit a record $535 billion, up 27% from 2019. Exports, meanwhile, rose to an all-time high.
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