Wall Street 11 december 2025

december 11, 2025

China now has the biggest power grid the world has ever seen.

Between 2010 and 2024, its power production increased by more than the rest of the world combined. Last year, China generated more than twice as much electricity as the U.S.

Some Chinese data centers are now paying less than half what American ones pay for electricity.

WSJ 10 december 2025

https://www.wsj.com/tech/china-ai-electricity-data-centers-d2a86935?

US trade deficit slides to lowest level since 2009 in October

The gap between imports and exports of goods fell 39 per cent from the previous month to $29.4bn. That reduced the deficit to its narrowest level in more than 16 years, and much narrower than the $59.8bn predicted by economists polled by Reuters.

FT 8 January 2026

https://www.ft.com/content/ee04e567-dbac-440d-8699-29e7a6c6194d

Despite this monthly drop, the cumulative trade deficit for the year (January to October) is still 7.7% higher than the same period in the previous year. Economists have warned that the October drop may be temporary, driven by volatile components like gold and pharmaceuticals, rather than a sustained structural shift

The Problem Trump Is Seeking to Tackle Is Very Real

https://englundmacro.blogspot.com/2025/04/the-problem-trump-is-seeking-to-tackle.html

The U.S. trade deficit has fallen to its lowest monthly level in five years, as trade patterns adjust to President Trump's steep tariffs.

The year-to-date trade deficit is 17% larger than in the first nine months of 2024—partly reflecting a flood of imports at the start of the year as U.S. companies stocked up before tariffs landed.

WSJ 11 december 2025

https://www.wsj.com/economy/trade/u-s-trade-deficit-fell-to-5-year-low-in-september-ff6a240d

The $8.7bn increase in exports in September mostly comprised a $6.1bn increase in non-monetary gold shipments, “which won’t show up in GDP”.

https://www.ft.com/content/41a9f325-9c17-4fb2-b4cf-064296d14042