A spokeswoman for China's Foreign Ministry says the Beijing government is, "opposed to defining the entire China-U.S. relationship in terms of competition."
Mao Ning told a briefing “The Chinese side has always believed that China-U.S. relations are not a zero."
None of that was any rhetorical shock — and the most recent trade news involving the two countries is also not a shock to those who have been tracking developments.
Trade between the two countries hit a record high in 2022.
The U.S. Bureau of Economic Analysis reported exports to China were up by nearly $2.5 billion last year, while imports from China shot up by nearly $32 billion dollars.
Put it all together, and within all the various figures and measurements, two numbers stand out.
Two-way trade between the countries totaled nearly $700 billion last year — a new record.
And the U.S. trade deficit with China now tops $380 billion. While not quite a record, it is the second highest figure that's been registered.
Inflation played a role in boosting some of the numbers, but the trends also remain clear—any desire to decouple these two economies will not be fulfilled anytime soon.
