China's export surge is raising concern at the G7 summit. China's export surge is supported by an increase in technologically advanced manufacturing exports anchored in its Made in China 2025 industrial policy plan. A defining feature of China's expanding export footprint is its parallel push for greater self-reliance through industrial policy amid rising geopolitical tensions. Since around 2018, China's share of global exports has risen markedly. According to federalreserve.gov, China's accession to the World Trade Organization in 2001 marked the beginning of one of the most consequential episodes in the history of global trade. The subsequent surge in Chinese exports—often referred to as the 'China Shock'—has been widely associated with large adjustments in production patterns, labor markets, and trade balances across the global economy. According to federalreserve.gov, China's recent export expansion is often referred to as 'China Shock 2.0'.