China's exports surge by nearly 6% in November, despite a 29% drop in US shipments. This marks an eighth consecutive month of double-digit declines in US exports. Overall exports reached $330.3 billion, surpassing economists' estimates and a 1.1% contraction in October. China's trade surplus for the first 11 months exceeded $1 trillion, a record high. While US exports have fallen, shipments to other regions like Southeast Asia, Latin America, Africa, and the EU have surged. Imports increased by 1.9% in November, despite a property sector downturn affecting consumer spending. A recent trade truce between China and the US has lowered tariffs and halted export controls on rare earths. However, China's factory activity contracted for an eighth straight month, and it's uncertain if the truce will boost external demand. Economists predict China will meet its 5% economic growth target, focusing on advanced manufacturing for the next five years. Despite ongoing trade tensions, Morgan Stanley forecasts China's global export market share to reach 16.5% by 2030, driven by its manufacturing edge and high-growth sectors.
