Over two years, Pandemia has strengthened its position as a world supplier of industrial goods and increased its share in the world export of goods, writes The Wall Street Journal.
Some successes of Beijing in world markets have weakened, but the overall trend remains positive. Economists emphasize that countries cannot disconnect from the world’s largest production center.
Chinese factories increase their influence at the expense of expensive and high -tech goods: chips, smartphones, electric cars and others. According to the UN Trade and Development, during the pandemic, the share of China in world export of goods in value terms increased from 13% in 2019 to 15% by the end of 2021.
For comparison, the share of world exporters like Germany, the USA and Japan has decreased over the same period. The share of Germany in world exports fell to 7.3% in 2021 from 7.8% in 2019, Japan – to 3.4% from 3.7%; And the share of the United States decreased to 7.9% from 8.6%.
China’s share in the world exports of electronics increased, from from 38% in 2019 to 42% in 2021.
This success was facilitated by the rapid takeing of the situation with the Covid-19 under control and the ability to provide even high-tech goods at affordable prices.
In 2022, as experts of the publication, the export boom of China continued contrary to the forecasts of economists who expected a slowdown in the Chinese economy.