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πŸ‡¨πŸ‡³ China's record April surplus masks an ASEAN re-routing play

πŸ‡¨πŸ‡³ China's record April surplus masks an ASEAN re-routing play

China's April trade surplus hit $84.8bn on record exports of $359.4bn, but the US-China bilateral surplus compressed to $23.1bn as Southeast Asian intermediaries absorb Chinese semi-finished goods. The headline surplus is a routing story.

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