As India builds its manufacturing and exports, one country it must study for hard lessons in scale, speed, and systems is China – which in less than three decades has built enough factories, ports, and processes to become the world’s leading manufacturer and exporter.
In 2024, it exported $3.6tn of goods and ran a record $1.1tn trade surplus – more than the total exports of most major economies. Including Hong Kong, its merchandise exports exceed $4.2tn. By contrast, US exports totalled $1.7tn, while imports reached $3.4tn, resulting in a $1.7tn trade deficit. India exported $443bn of goods and ran a $275bn deficit.
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Views expressed above are the author’s own.
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