Global Times Attributes China’s $100 Billion Trade Surplus to Prices, Not Export Volumes
Updated
Updated · Global Times · Aug 19
Global Times Attributes China’s $100 Billion Trade Surplus to Prices, Not Export Volumes
1 articles · Updated · Global Times · Aug 19
Summary
$100 billion-plus monthly surpluses for three straight months reflect higher export values and lower import costs, not proof that China is “squeezing” global markets, a Global Times editorial said.
Export prices for higher-value goods drove the headline numbers: first-half memory chip export value jumped 113.2% and solar cell value rose 19.6%, even as solar cell export volume by weight fell 1.9%.
Cheaper commodity imports also widened the surplus, with oil falling from $126 a barrel to below $80 and imported iron ore landing costs down 30 to 70 yuan per ton.
The editorial argued trade with China can support other economies, citing Canada’s July gain of 75,100 jobs and British Columbia’s 29% export rise to China to more than C$5.2 billion.
It framed the surplus as part of China’s shift toward higher-value exports—from EVs and solar products to AI and robotics—while noting imports still rose 22% in January-July versus 14% export growth.