#China is integrating with the world #economy, not decoupling from it, according to Wu Ge, as indicated by the following facts...1/7
Amid rising #trade tensions with the #US, China has turned to export more to Southeast Asian countries; meanwhile, China’s #exports of medical and virus-control supplies have also increased amid the #pandemic...2/7
Both highlight #market force in global resource allocations that cannot be manipulated by political forces. China enjoys obvious advantages over Southeast Asian countries with a complete range of well-designed & -made product #supplies, a fact that many statistics can prove...3/7
In terms of the #demand side, the scale of the Chinese #retail market is approaching that of the US and it’s expected to catch up in around 2022...4/7
As domestic spending booms, China also exports a lot more and could become the largest exporter in the world in the coming years. Moreover, the proportion of trade surplus in #GDP of China has fallen to a widely-accepted level...5/7
With #COVID19 posing long-standing challenges to the global economy, it takes time before countries resume their production and supply capacities. China has been the first to do that, and it has obvious comparative advantage in global trade in the short run...6/7
Of special note, after the pandemic, as people think more about economic safety and #risk diversification than merely about production efficiency, reallocation of some industries world wide will be inevitable, but it could be a slow variable here.7/7
mp.weixin.qq.com/s/oXkIbZsLKbwR…
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