China's Economy Expands Stronger Than Anticipated

According to official data released Friday, Chinas economy expanded more than anticipated in the final three months of 2024 as it prepares for the impending implementation of new tariffs by US President-elect Donald Trump, who assumes office next week.

Exports provided a significant portion of the growth impetus, pushing the nations trade surplus to a record high of just under 1 trillion last year.

Trump, however, is sure to be dissatisfied with that strength because he has stated that China will be subject to 10 higher tariffs on its imports than the current ones unless it stops the flow of illegal narcotics into the US.

During the campaign trail, he had promised to impose a 60 tariff on all Chinese imports into the United States.

According to separate data from the National Bureau of Statistics NBS, China , which is dealing with demographic and economic issues, also had an unexpected jump in the birth rate last year, reversing a trend of reductions that accelerated starting in 2017. For the third year, however, the population as a whole kept declining.