Politics
China against America on world trade
The return of President Donald Trump to the White House means that another trade war between the United States and China seems likely.
What happened to global trade relations since the 2018 Uschina trade war in 201819? Our last Instant data Cards, whether China or the United States is the largest trading partner for each economy in the world and to what extent. This provides an update of our Previous popular exercise From 2019. We examine the value of bidirectional trade (that is to say exports plus imports) between two savings to measure commercial integration by using the management of international monetary funds for commercial statistics database. We also provide ventilation by imports and exports separately.
The latest data shows that China continues to deepen its sales network. About 70% of global savings, 145, negotiate more with China than with America, while more than half of all economies are now negotiated twice as much with China compared to the United States.
Chinas' trade relations are however unbalanced. Before the pandemic, Chinese exports slowed down due to softer global demand and American tariff hikes. China's post-country exports increased by some 1 dollars in annualized terms. With a low indoor economy holding imports, the trade balance of goods from China was almost 1 dollars last year. The strong American demand, on the other hand, saw that it becomes even more important as a source of demand for global export.
The protectionist responses to Chinese exports are growing by the United States, Europe and others have so far done for the export chest of Chinas slowed down. However, with a more confident and determined Trump administration now in power, more drastic measures are on the horizon. For more details, see the Full data foundation.
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