Australia’s Falling China Trade Surplus Rings Economic Alarm

Australia’s trade surplus shrank to the lowest since 2018, underscoring how China’s soaring exports and weak imports are reshaping merchandise flows and potentially dragging down major trade partners.

The value of Australia’s shipments to China of iron ore, coal and other goods dropped 2% last year, falling for a second year in a row, as the world’s second biggest economy stumbled. Meanwhile, Australian shoppers splurged on cheap Chinese imports of everything from BYD Co. electric cars to e-commerce bargains from the likes of Temu and Shein.