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Here’s a summary of the provided text: Following escalating US tariffs on Chinese imports, Chinese businesses, like cookware maker Derek Wang, rapidly diversified their export markets to Brazil, Japan, Malaysia, and Cambodia. This shift has transformed China’s trade strategy, allowing it to significantly increase its global trade surplus and mitigate the impact of lost US business. Despite a recent contraction in exports, China’s resilience, built on decades of investment in global supply chains and infrastructure (including the Belt and Road Initiative), has allowed it to capitalize on new markets, particularly in Southeast Asia, Africa, and Latin America. However, this expansion raises concerns about potential oversupply in these markets, leading to price cuts for Chinese exporters and prompting retaliatory measures from countries like the US, India, Mexico, and Brazil. China’s government is now focusing on boosting domestic consumption to offset reliance on international markets, mirroring Wang’s own strategic shift.