Reminder: China also imported 1,384 tonnes of gold in 2024. Valued at $22,000/oz., China would have run a flat balance of trade in 2024. IE, China's trade surplus is a problem of "too strong a USD v. gold", not "China doesn't consume enough." China consumes plenty of gold.
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China Trade Surplus hits record high of $1.2 Trillion 🚨
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