Chinese companies are growing more optimistic about a rise in trade exports as firms show no signs of fully decoupling from China, according to Allianz Trade.
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Transforming Businesses with Digital and Automation | Innovation | Strategy | Tactics - Views expressed here are my own
Not all is quiet on the Eastern [economic] front. Declining #commodities exports, which contributed around 20% of China’s economic growth each in the past three years, have already forced policymakers to offer more help through improving #customs procedures, #logistics and funding, while frantically pursuing bilateral free trade agreements assuring exports of goods and services can at least stabilize in light of decreasing interests from U.S. and E.U. On that note, tumbling value of Chinese exports to U.S. made the U.S.drop to being the third-largest export destination after the ASEAN bloc and the E.U. The new export order subindex within China’s official #manufacturing purchasing managers’ index shows how hard it is to compete for Chinese companies. The index fell to 50.4 in March from 52.4 in [post Chinese New Year] February. Correspondingly, UNCTAD's latest estimates suggest that global trade in goods will increase by around 1 per cent in terms of value in the first quarter of 2023, compared to a 2.4 per cent rise a year earlier. How much of that is a breather from post-covid recovery and how much is due to countries attempting to bring back (re-shore) previously outsourced industries is not clear. #trade #shipping
China facing ‘severe, complicated’ trade outlook ahead of Canton Fair as orders tumble
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Results of a new survey by Allianz Trade conclude that China remains the world’s critical supplier, from which a full decoupling seems difficult, if not impossible. More than one-third of respondents plan to increase their China footprint, while 11% said they would decrease it. The Allianz Trade survey polled more than 3,000 companies in China, France, Germany, Italy, Poland, Spain, the UK and the U.S. about their outlook for global trade in 2024. Here is CNBC's summary: https://lnkd.in/gv4yGHYP Here is the link to the Allianz Trade Global Survey: https://lnkd.in/g_vm8eYG #china #exports #imports #trade #decoupling #derisking #dependence
China is a 'critical' global supplier, full decoupling may be impossible, survey shows
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China is a 'critical' global supplier, full decoupling may be impossible, survey shows UPDATED FRI, MAY 17 2024 By Charmaine Jacob Chinese companies are growing more optimistic about an increase in trade exports as global firms show no signs of fully decoupling from China, according to Allianz Trade. Over one in ten exporters in China — the second-largest exporter of goods to the U.S. after Mexico — projected a greater than 10% increase in exports. Although companies might not completely decouple supply chains from China, diversification is still on the table. Foreign trade containers are being stacked at the container yard of Qingdao Port in Qingdao, China, on May 14, 2024. Nurphoto | Nurphoto | Getty Images China remains a "critical supplier" to the world and efforts for a full decoupling remain "difficult, if not impossible," a trade report by Allianz Trade said. Despite talk of decoupling and derisking from China, European companies remain bullish about prospects in the country — with nearly 40% of companies in Germany and Spain and more than 30% of firms in France expecting their supply chain footprint n the country to increase. https://lnkd.in/e3aWACrK
China is a 'critical' global supplier, full decoupling may be impossible, survey shows
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Supply Chain Diplomat | Sr. Fellow George H.W. Bush Foundation US-China Relations | Retail Entrepreneur
U.S. trade has shifted away from China but U.S. reliance on China-linked supply chains has not necessarily been reduced and consumers have faced higher costs, according to new research presented on Saturday at a Federal Reserve economic symposium. #globalsupplychains #trade #supplychaindiplomacy #inflation
Trump, Biden policies shifted trade from China at a cost, study shows
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US Secretary of Commerce Gina Raimondo visits Beijing this week in an attempt to reset trade ties between the world's two largest economies. However, changing trade patterns highlight increasing economic regionalization in North America and Asia. China is no longer the largest trading partner of the US. In the years since the US-Mexico Canada Agreement (USMCA) went into effect in 2020, North American neighbors Canada and Mexico have replaced China as America's largest market for imports and exports. At the same time, China is increasing trade with the Association of Southeast Asian Nations (ASEAN) following the Regional Comprehensive Economic Partnership (RCEP), which went into effect in 2022. In addition to these regional trade agreements, rising Federal Reserve interest rates, diminishing Chinese consumption rates, and political factors continue dragging on the US-Chinese economic relationship. American businesses should understand these shifting incentives to capitalize on regionalization trends and de-risk from the China market.
U.S., China set for talks as they bring trade closer to shores
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China released a mixed batch of economic data on Friday showing a slump in exports and imports was gradually easing, but lingering deflationary pressures underlined the challenges policymakers face in trying to engineer a stronger economic recovery. Want to stay up to date with the latest Laufer & industry news? Follow us here on LinkedIn!!!! Check out the article: https://t.ly/fDHrZ #laufer #freightnews #export #import
China's trade slump eases, boosting recovery hopes, but challenges persist - Laufer Group International
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Exciting news in trade dynamics! 🌎 For the first time in two decades, Mexico has surpassed China as the leading source of U.S. imports. A 20% drop in Chinese imports, totaling $427 billion, reflects pandemic shifts and prolonged political tensions. 🇲🇽🇨🇳 Let's explore the evolving global trade landscape! #TradeTrends #USImports #GlobalEconomy #ChainMTN https://lnkd.in/dy3ik6j6
For First Time in Two Decades, U.S. Buys More From Mexico Than China
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