Mohamed El-Erian

Post excerpt

Three points on this Bloomberg’s chart detailing the surge in China’s trade surplus: The surplus has widened despite a global rise in trade barriers. After reaching nearly $700 bn through July, the full-year surplus is projected to exceed last year's record .2 tr. This isn't just about Chinese EVs in Europe. China's ability to manufacture throughout the value chain is eroding the development "escalator" that rising developing economies have historically pursued. #economy #markets #china #development #trade

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