China's trade surplus exceeded $1 trillion through November, prompting the IMF to urge a swift shift towards domestic consumption to mitigate escalating global trade tensions.These tensions stem from US tariffs and potential EU measures, leading China to diversify export markets and explore new trans-shipment routes to circumvent existing trade barriers.Premier
Li Qiang acknowledged the damaging consequences of higher tariffs on the global economy, while the
IMF revised
China's economic growth forecast upwards for next year.