The so-called China Shock 2.0 narrative is incomplete, analysts argued, as they noted that domestic macroeconomic forces in China and the West, particularly the United States, are at play in driving their growing external trade imbalance. The term, coined to describe new global ramifications of China’s manufacturing dominance – a phenomenon echoing the trade shock of the early 2000s – has been under renewed debate, particularly as China recorded a goods trade surplus of more than US$1 trillion...