Chess game. Two team stand confront each other on China and USA national flags. Trade war concept.
© Tanita Chunsiripongpann

FORBES writes:

One would think that the worldwide “stop the world” moment would have totally collapsed China trade. It hasn’t.

The world still needs China, and still relies on China.

Their trade balance for the month of May hit a record hit $62.9 billion, but that is mainly because China companies were importing less, down 16.7% to be exact, based on Chinese trade figures released on Sunday.

Exports declined by just 3.3% annualized for a total of $206.8 billion. This could have been so much worse.

Despite the trade war and the higher prices American firms are now paying for many Chinese goods, the surplus with the U.S. stood at $27.9 billion in May, which is greater than the $22.8 billion in April. 

Trade volumes are on the mend. Deliveries abroad showed an increase of 3.5% year-on-year, but this effect was short-lived. 

To read the full post, please click here.

You may also want to read this: “The U.S.-China ‘cold war’ is here — and Beijing may start targeting Washington’s allies, analysts say“.

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