China posts record trade surplus

CGTN Europe interviewed David Mahon, Executive Chairman, Mahon China Investment Management

[angrydad]

That’s so weird…. For the past 30 years I’ve heard how the Chinese economy will collapse.

[AIPretendingToBeHuman]

208.81B drop in imports -- "Sign of Weak Domestic Demand" or an alternate explanation may be local companies are replacing foreign imports. I'm not an expert but I can imagine a Chinese consumer buying a 15k car, instead of a 25k European or American import and putting the 10k in the bank. It might look bad on the China's GDP number; but the consumer would be happy. As a US citizen, I wish I had that problem -- but the only option available to me is a 40k Tesla.

[PhilipWong]

If one country adds 10 billion dollars of debt daily while the other gains a trade surplus of 3 billion dollars daily, which country is broke?

[Enfinauniverso]

China used to spend more on imported chips than imported oil. That could be part of the reason.

[Spiderryder-]

Weak domestic demand? China is a manufacturing powerhouse, why would they even need to import much?
This reporting is always a pain to watch

[scientistlarry]

China does not print global reserve currency. So it is trying to increase export and reduce imports. Using US method of printing money and buying goods, it is a non-starter for China.

[jason-uspc]

WHO IS THE CHINA EXPERT THAT SAYS CHINA IS COLLAPSING?

[antonmihoc]

You can not beat a country that plays the long game. We should learn from China, not try to stop them.

[morganangel]

Considering chips where the main imports, and China replace more and more imported chips, no surprise imports fall.

[gliu]

China imports less semiconductor chips (7nm and above) because they can now produce them. This going to reduce total import amounts.

[chanbengfoo]

Imports slow is not because of less
Domestic consumption
Luckin instead of Starbuck
Li Ning instead of Nike

[billinsf]

If China is banned from purchasing semiconductor chips, wouldn’t that reduce their imports?

[rolandeyezz]

It could be weak demand, or Chinese people may choose to buy local

[DucaTech]

Drop in imports is due to export control of advanced semiconductor chips by US and China is building domestic ones. Otherwise they would have imported $400B worth of nVidia GPUs.

[kamalkashyap]

Well they produce everything domestically so they always in surplus

[georgewilder]

Exports fell slightly cheaper as said...does that necessarily mean that things are slowing down in China.
Chips were one of their biggest imports, so maybe China's becoming self -sufficient in that line so imports are down.

[VickyVicky-peqd]

I'm favoured financially with Bitcoin ETFs approval, Thank you, buddy.$42, 000 weekly profit regardless
of how bad it gets on the economy

[jeffreystliow]

China is importing much lesser Chips. They are cooking up big batches for themselves in their kitchens.

[ceychungyu]

High tariffs is actually a free lunch to local manufacturers, who will include the tariff value to their local sales, every car sold will be a coupon value of the tariffs on vehicles sold. The losers are the consumers who pay the additional value. Never works, robbing Paul to pay Peter.

[richardt]

june imports fell because the demand for local goods has gone up. they are cheaper and supports domestic production