CHINA Stop Export to US and EU: What next?
For the first time, the emerging markets and developing countries now constitute 56.7% of China’s trade volume, surpassing traditional partners such as the US and Europe. For the first time, emerging markets and developing countries now constitute 56.7% of China’s trade volume, surpassing traditional partners such as the US and Europe. This shift marks a significant reorientation in China’s trade strategy and economic relationships. Several factors contribute to this trend. Firstly, China’s participation in the Regional Comprehensive Economic Partnership (RCEP) has deepened trade ties with countries in the Asia-Pacific region. In 2023, trade between China and the 14 other RCEP member countries reached $1.77 trillion, a 5.3% increase compared to the period before the agreement took effect in 2021.