China ended 2025 with a record trade surplus of US$1.19 trillion.

But the most important detail is in the fine print: exports to the US plummeted 20% during the year.

The route of global trade has changed. Understand the numbers!

2️⃣ The American "Hole"

The effect of trade tensions is visible.

In December, Chinese exports to the US fell 30% (the ninth consecutive month of decline).

For the year as a whole, the drop was 20%.

The direct flow between the two superpowers is drying up rapidly.

3️⃣ If the US doesn't buy, who will?

To compensate for the American blockade, China flooded other markets.

In December, Chinese exports rose:
📈 +12% to the European Union
📈 +11% to Southeast Asia (ASEAN)

China is redirecting its "world factory" to its neighbor and to Europe.

4️⃣ Why export so much? (The Internal Crisis)

This record of foreign sales is happening because China's domestic economy is doing poorly.

With the real estate crisis and deflation, Chinese consumers have stopped spending.

Beijing's solution? Export excess production at any cost to keep the factories running.

5️⃣ The Global Alert

Economists are already warning: this Chinese surplus could be "as destructive as Trump's tariffs."

The reason: China is exporting its deflation. By flooding the world with cheap products, it puts pressure on local industries in other countries, which may react with protectionism.

6️⃣ Strategic Commodities

Two data points stand out in the report:

1️⃣ Rare Earths: China increased its exports of these critical minerals by 32% in December.

2️⃣ Soybeans: Even with the tension, they purchased 111 million tons in 2025 (+6.5%), fulfilling part of the truce with Trump.

7️⃣ "Decoupling" is happening in practice.

The US has managed to reduce its dependence on China (-20%), but Beijing has responded by further dominating trade with the rest of the world.

The $1.2 trillion surplus shows that the Chinese export machine is far from stopping.