New US President, Donald Trump is kicking off a new era of Western economic rivalry with Beijing just as China\u2019s dominance of global manufacturing is greater than ever, says the Wall Street Journal.<\/p>\n\n\n\n
That makes interesting reading for the U-Freight Group with our portfolio of international freight, logistics and supply chain management operations that serve the China market, supported by our strong network across the country.<\/p>\n\n\n\n
According to the WSJ report, China has just posted a trade surplus of USD1 trillion for 2024, and the gap between exports and imports is now three times what it was in 2018. <\/p>\n\n\n\n
The WSJ\u2019s Jason Douglas reports that China accounts for around 27% of global industrial production, and the share is on the rise.<\/p>\n\n\n\n
For Washington and its allies, this shows that efforts to reduce their dependence on China are coming up short. <\/p>\n\n\n\n
That suggests it will remain hard for President Trump to rebalance U.S.-China trade relations. <\/p>\n\n\n\n