Against the news of China’s record trade surplus of US$1.19 trillion last year, some have warned it is making trade impossible, arguing that the rest of the world has fewer goods they can sell, or are willing to sell, to China. Critics point to China’s competitive edge in producing better and cheaper goods.
For Beijing, this feels less like criticism and more like a subtle compliment. In many ways, it affirms China’s long-term strategy to bolster its global manufacturing.
Supporting…