Evolution of the World’s trade balance with U.S. and China

Over the past two decades, global trade has shifted significantly in favor of China. From 2001 to 2023, the world’s trade balance with China surged by $5.4T, while trade with the U.S. grew by $3.2T. The map highlights how different countries’ trade balances with China and U.S. have evolved, showing that out of 209 countries, only 45 saw higher trade balance growth with the U.S. compared to China.

Countries like Russia, Brazil, and Australia saw substantial trade growth favoring China, while Canada and Mexico experienced stronger trade growth with the U.S. (partly due to NAFTA and proximity with the U.S.). This shift reflects China’s growing role as a global manufacturing hub, its aggressive trade policies, and strategic partnerships through initiatives like the Belt and Road (BRI), which have deepened its economic ties with many nations.