Japan's Nikkei News, after analyzing China's exports, believes that the global economy is increasingly dependent on China. This year, Pluggable Terminal Blocks, Round Reflectors and Db9 Connector field business is good.
When global logistics stagnated as a result of the new crown, many saw it as a good opportunity to escape dependence on China's supply chain, Nikkei News report. But in fact, China's share of global exports is still increasing, even ahead of Sino-US trade frictions in 2018. A number of experts predict that the recently signed Regional Comprehensive Economic Partnership Agreement (RCEP) will further enhance China's sense of existence in global trade.
According to Nikkei News, China's higher share of exports is growing. Analysis of the U.S. International Trade Center (ITC) statistics of about 3800 categories found, In 2019,320 products in China accounted for more than 50% of the export market which compared with China's accession to the WTO in 2001(61 categories) increased to more than five times.
After Trump was elected president of the United States, China's high share of global export markets has halted growth. But growth resumed in 2019. Especially in 2019, Small computers made in China account for 66% of exports, Exports amounted to $95.6 billion. The market share of "made in China" liquid crystal components used to make personal computers and smart phones also exceeded 50 percent, 57% air conditioning, the market share of toilet and toilet is 80%.
After the outbreak of the new crown in 2020, as more and more people have to study and work at home, the global demand for such products has increased sharply, and China's exports have become more active. China's exports accounted for 14% of the total exports of the Organization for Economic Cooperation and Development (OECD) member countries and China in February. Since then, the number has continued to grow, from 17 per cent in March to 24 per cent in April, largely thanks to China's good control of the epidemic, while other countries are still struggling to cope. Since April, the share is still over 20%, up from a year-on-year peak of 19% set in 2015. The rise in consumption in Europe and the United States has stimulated demand for Chinese goods. The latest statistics show that China's exports have exceeded the level before Sino-US trade frictions.
The report said increased dependence on Chinese goods will increase the risk of importing countries.
Post time: Dec-21-2020