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A Second China Shock, With Brad Setser
The President’s Inbox
Measuring China's Exports
China's exports can be measured by looking at the increase in China's manufacturing surplus, with the first China shock representing an increase of nearly 1% of world GDP due to manufactured exports. Over the past few years, there has been a second increase, leading to a total of about 2% of world GDP attributed to China's manufacturing surplus, marking what can be termed as the second China shock.
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