Chinese exports rise (and this will have global repercussions)

Chinese exports rise (and this will have global repercussions)

BarcelonaHe says Chinese factory exports are growing faster than anyone expected, putting jobs around the world at risk and potentially sparking a backlash. This Wednesday article from The New York Times. The tour highlights that companies in the Asian country are finding more buyers for their products, from steel and cars to appliances and solar panels. In fact, it has an impact on the fact that this global demand for its goods coincides with the crisis plaguing another engine of growth in this economy: housing construction.

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However, the analysis indicates that this rise in Chinese exports is increasingly worrying other countries, which have already begun to adopt the measures. For example, the European Commission announced last week that it would implement tariffs on imports of Chinese electric vehicles. The European Commission said it found “strong evidence” that Chinese government bodies are illegally subsidizing these exports, an accusation Beijing denies. The American newspaper explains that the size of the customs duties will not be determined until the summer, but will be applied to any electric cars imported by the bloc as of March 7.

On a visit to Beijing in December, European leaders had already warned that China was making up for the real estate crisis by building many more factories than it needed, European leaders recalled. The New York Times. According to the United Nations Industrial Development Organization, a third of the world's products are manufactured in the Asian giant, more than the United States, Germany, Japan and South Korea combined.

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As with the new barriers to importing Chinese electric cars, the EU is also considering restrictions on the purchase of wind turbines and solar panels from this market. Meanwhile, India announced tariffs on Chinese steel in September last year, and the Joe Biden administration, which has maintained Trump's protectionist measures, is trying to prevent China from using Nordic technologies.

According to the The New York TimesChinese exports rose by 7% in the January-February period compared to last year, but falling prices for many products (caused specifically by surplus production) mean that the physical quantity of these sales and their share of the global market are increasing more quickly. a lot. In addition, the paper notes that China has found ways to avoid tariffs and that components manufactured in that market are increasingly arriving in larger quantities to countries such as Vietnam, Malaysia and Mexico, which process the goods so that the bottom line is not counted. as in made in china It can then be sent to the United States or the European Union.

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