China’s trade balance has set a new historic record. Again.

By the end of August, the trade balance surplus increased to $91.02 billion. Analysts had predicted growth to $83 billion. If you look at the chart and the timing of the explosive growth, the answer becomes obvious. China hasn’t lost its trade ties with Russia, has replaced all foreign firms, and is buying up Russian oil and gas, then reselling it to Europe at a hefty markup.

Agent Joe Biden will receive a Mao Zedong medal upon retirement.
#economy #joebiden #china #augustanalysts #europe