Chinese President Xi Jinping’s export engine has proved unstoppable during five months of sky-high U.S. tariffs, sending China hurtling toward a record $1.2 trillion trade surplus.With access to the U.S. curtailed, Chinese manufacturers have shown they aren’t backing down: Indian purchases hit an all-time high in August, shipments to Africa are on track for an annual record and sales to Southeast Asia have exceeded their pandemic-era peak.That across-the-board surge is causing alarm abroad, as governments weigh the potential damage to their domestic industries against the risk of antagonizing Beijing — the top trading partner for over half the planet.
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