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China Announces Record Trade Surplus as Its Exports Flood World Markets

China’s surplus reached $1.19 trillion last year, a 20 percent increase from 2024, as Beijing kept the currency weak and pursued self-reliance to replace imports.

© Chang W. Lee/The New York Times

The production line at a car factory in Hangzhou, China, in October. Exports to the United States fell, but rose to much of the rest of the world.
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