China’s Trillion-Dollar Trade Surplus Is Becoming a Strategic Liability China’s record trade surplus reflects strong export competitiveness but also exposes deeper economic imbalances. China EU Trade Relations weak domestic demand, excess capacity, and growing trade tensions are making it harder for Beijing to sustain an export-led model, increasing pressure to rebalance growth towards domestic consumption. URL: https://www.orfonline.org/expert-speak/china-s-trillion-dollar-problem-why-china-fears-its-own-trade-surplus