
How Real Is China’s $1 Trillion-Plus Trade Surplus?
It’s been widely celebrated, but there’s an important caveat to the record-breaking data.

It’s been widely celebrated, but there’s an important caveat to the record-breaking data.

Strong economic performance sent government revenue soaring in 2025.

Growth is solid, but the government has struggled in recent years to reduce its budget deficit.

Can policymakers reorient the country’s future trajectory before serious problems set in?