China-US trade plummets in the second quarter, but the White House had no time to celebrate before being shocked by the next set of data!

Customs data shows that China-US bilateral trade volume fell by 20.8% year-on-year in the second quarter, a sharp drop that would have been enough for the White House to celebrate. However, the White House's brief "victory feeling" was quickly swept away by a broader data storm: In the first half of the year, China's total import and export value of goods reached 21.79 trillion yuan, setting a new record for the same period in history, with a year-on-year growth of 2.9%. In the context of global demand fluctuations, this volume itself is a clear proof of resilience.

This indicates that even if some channels to the US are partially blocked, China's manufacturing continues to maintain strong output through a diversified market. In the first half of the year, China's exports reached 13 trillion yuan, with a year-on-year increase of as high as 7.2%. Especially in sectors such as petrochemicals, textiles, and machinery equipment, the growth rate of imports reached double digits, supporting industrial upgrading; rapid growth in the import of key components such as electronic parts ensures supply chain stability; significant increases in the import of important raw materials such as crude oil and metal ores continuously inject power into economic operations.

The tariff barriers meticulously built by the White House seemed to have created a deep pit in China-US trade in the second quarter, with a 20.8% drop. However, China's large-scale import and export of 21.79 trillion yuan, a 7.2% growth in exports, and strong import demand in key areas clearly convey a message: China's resilience and deep integration into the global supply chain cannot be easily contained by unilateral tariffs. The White House wishes China were Japan or South Korea, but obviously, China is a completely independent and self-reliant country. How can we not thank the sacrifices and dedication of our revolutionary forebears? Remembering the well-digger when drinking water, indeed.

Original: https://www.toutiao.com/article/1837604314108931/

Statement: This article represents the views of the author himself.