China’s Trade Boom Survives Extreme Rains as AI Lifts Demand
China’s exports and imports managed to ride out the disruptions caused by extreme weather in July, as a global investment supercycle in artificial intelligence powers tech demand overseas and at home.
China's exports and imports increased in July despite disruptions caused by extreme weather. The country's trade boom is being driven by a global investment supercycle in artificial intelligence, which is lifting demand for tech products.
Exports climbed 23.9 percent year-on-year in July, according to the General Administration of Customs. Overseas shipments of computers and related parts jumped 45.2 percent on year in the first seven months. The trade surplus reached $687 billion through the end of July.
The surge in exports has raised concerns abroad, particularly in Europe, where leaders worry about Chinese exports squeezing out local manufacturers. China's trade surplus was nearly $1.2 trillion last year.
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