Trade wars have not affected China’s exports

Trade-wars-have-not-affected-Chinas-exports

Foreign media said that the trade war launched by the Trump administration in the United States did not seem to contain China’s exports. According to data released by the General Administration of Customs of China, China’s trade surplus with the United States in September was another record, expanding to $34.1 billion.

According to the Spanish “World News” website, in September, China’s exports increased by 14.5% year-on-year (in US dollars), not only faster than August’s 9.8%, higher than experts’ expectations. This growth rate is also the highest in more than half a year.

According to data released by the General Administration of Customs of China, in the first three quarters of 2018, China’s import and export value increased by 6.67 trillion RMB, 7.35 trillion RMB and 8.17 trillion RMB respectively, up 9.4%, 6.4% and 13.8 respectively. %.

According to Reuters, Li Kuiwen, spokesperson of the General Administration of Customs of China and director of the Department of Statistical Analysis, said that China’s import and export situation in the first three quarters showed seven characteristics: the import and export value increased quarter by quarter, and the growth rate in the third quarter was significantly higher; The import and export of general trade expanded rapidly, and the proportion increased; the import and export growth of major trading partners and the import and export of some countries along the “Belt and Road” were better; the import and export growth of private enterprises increased.

The British “Financial Times” article said that to prove the rationality of the tariff increase, the US government has been focusing on China’s progress in high-tech fields such as artificial intelligence and robotics. But in the short term, Chinese companies that produce medium-tech products such as vehicle parts, motors, and construction machinery are rapidly gaining market share. The production of medium-tech products has helped China’s exports climb to the upper end of the value chain.

According to the report, in the ten years after the financial crisis, China’s exports showed great resilience. Since surpassing Germany to become the world’s number one commodity exporter in 2009, China’s exports have grown at an average annual rate of 5%, while global exports have grown at an annual rate of less than 2%. In the past ten years, China’s manufacturing exports have increased from 12% to 18%.

Foreign media reported that trade friction and tariffs have a structural impact on China’s international trade exports. Specifically, among China’s export products, foreign-funded enterprises account for a relatively large proportion of exports, accounting for 45%; private enterprises account for a high percentage of exports, almost 45%; and state-owned enterprises account for only 10% of exports. From this point of view, trade frictions and tariffs have different effects on the export scale of different ownership enterprises in China, and foreign-funded enterprises and private enterprises are likely to be under higher pressure.

The Italian “Late Post” article stated that the United States is using its tariffs as a means to show off its “economic muscles” to countries around the world. It believes that China’s traditional export-oriented economic development model cannot withstand the US tariff shocks. In fact, in the current Sino-US trade friction, “the Chinese economy has shown excellent adaptability.”

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