China’s challenge is no longer about exporting more efficiently, but about changing its role in the global economy, says Enodo Economics’ Diana Choyleva. LONDON: China reported a record US$1.2 trillion trade surplus in 2025 , an astonishing figure that has reignited debate over whether United States trade restrictions have failed. After years of tariffs, export controls and supply-chain pressure , China is still exporting more than ever.  To some, this looks like vindication, proof that Beijing