The world’s second largest economy closed 2020 with a total trade surplus of $ 78 billion in December, according to an official Customs data Released Thursday. China’s total surplus for this year hit a record high of $ 535 billion, up 27% over 2019. Meanwhile, exports rose to an all-time high.

Larry Hu, chief Chinese economist at Macquarie Capital, wrote in the report “Amid all the hype around de-coupling and de-globalization, and somewhat unexpectedly, the pandemic has deepened ties between China and the rest of the world.” Research report.

Lewis Kuijs, head of economics for Asia at Oxford Economics, attributed China’s gains largely to the country’s management of the epidemic, which It broke out in the Chinese city of Wuhan Just over a year ago. He added that China has benefited from a lot of demand for protection equipment and electronics as people all over the world work from home.

“After recovering from the Covid-19 crisis, China was open to business when the pandemic sparked a huge demand in the United States (and other countries) for goods related to Covid-19,” Kuijs said.

Meanwhile, China’s trade relationship with the United States has become more dysfunctional: Beijing’s trade surplus with Washington increased to $ 317 billion in 2020, a 7% increase over the previous year and the second-highest amount on record, according to Iris Pang, chief economist. For Greater China in ING. This amount does not exceed $ 7 billion from 2018 levels, when Trump launched a violent trade war to correct what he described as an unbalanced relationship with the second largest economy in the world.

READ  미국 채권 수익률 상승으로 2 월 아시아 증시 유출

“Judging by the increase in US imports from China in 2020, it seems fair to say that Trump’s trade war with the country has failed,” Kuijs said. He said.

The good trade news comes days before China is expected to announce end-of-2020 GDP numbers – another potentially positive proposition. Analysts widely expect Chinese economic growth to pick up further during the last three months of the year. Analysts polled Reuters We expect Chinese GDP increased by 2.1% in the whole of 2020.

“Such as [China] It plays a critical role in many supply chains and remains a very competitive place to produce, it is much easier to say rather than do to separate it from it. “

But China’s future is not without its challenges. Analysts suggest President-elect Joe Biden will likely not reverse some of the pressure on the country after taking office next week.

Kuijs said: “The Biden government will take a different approach, less combat and more consistent towards China.” But it is not politically possible for Biden to raise tariffs on Chinese goods anytime soon.

답글 남기기

이메일 주소는 공개되지 않습니다. 필수 필드는 *로 표시됩니다

You May Also Like

한국은 게임 내 결제에서 세계를 연구합니다.

Squid Game을 가져온 연결된 국가는 비디오 게이머의 천국이며 국가 및 기타 회사에서…

인도와 베트남은 미국의 규제로 칩 제조업체가 중국에서 멀어지면서 이익을 얻을 수 있습니다.

검정색 배경에 빛나는 숫자, 기호 및 원을 보여주는 그림입니다. 치노 유이치로 |…

글로벌 혼란 속에 3 월 한국 수출이 사상 최대치를 기록했습니다.

탐색경로 링크 PMN 사업 기사 작성자: 기사 내용 (블룸버그) – New Economy…

영국은 Telegraph Media 인수에 공익 개입을 고려하고 있습니다.

수도원: 세계 최대의 농업 장비 제조업체는 3개월 전 빠르게 성장하는 시장에서 일부…