00:00China's trade surplus has surged past the $1 trillion mark in the first 11 months of 2025,
00:08even as its shipments to the United States plunged by nearly 29% in November.
00:12The record-setting surplus underscores a major shift in global trade flows
00:17and signals potential long-term challenges for the United States' economic strategy.
00:22What makes the surge particularly notable for American policymakers
00:25is that it is no longer being driven by Beijing's trade with Washington.
00:30Yet China's overall export growth remains intact because shipments to Southeast Asia,
00:35Africa, Latin America, and the European Union have expanded significantly,
00:40effectively filling the gap, left by declining American demand.
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