Where Data Tells the Story
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Most major economies run a trade surplus with the United States and a deficit with China. Rich countries and poor ones. Manufacturing exporters and commodity producers. Countries in Asia, Europe, Latin America and the Middle East. The details differ but the underlying structure is remarkably consistent. America absorbs the world's exports while China supplies them.
The broader picture is one of structural dependency running in two directions at once. That arrangement has persisted for decades because it suited everyone reasonably well. What happens when it stops suiting the two superpowers at its centre is the question that now hangs over global trade policy.