The trade of the world’s manufacturing leader, China—as Russian President Putin reported for his country’s trade—continues to shift to the developing countries, as it stagnates with the United States and Europe. With China’s new trade figures for May, available June 5, Asia Times reported once again that another surge in exports to the Global South accounted for the entirety of China’s large export growth in May, which was 11.2% relative to May 2023.