The country’s export share has expanded during the pandemic
buyers, hailing from just about every country, would have flocked to the Canton Fair, the world’s biggest trade show. This year, because of the pandemic, it was conducted entirely online, running for ten days and ending on June 24th. Although no substitute for meetings in the flesh, the virtual fair was testament to China’s manufacturing muscle. Some 25,000 exhibitors hosted live-streams, often from their factories, chatting to anyone interested in their products.
On it went. There were companies making motorbikes and electric cars, coffee machines and milk-frothers, dog toys and hummingbird-feeders. Even if the live-streams were amateurish, in halting English with poor lighting, the overall effect was powerful. Here, the fair proclaimed, is China: home to 28% of the world’s manufacturing—nearly as much as America, Japan and Germany combined—and, despite the coronavirus, still going strong.
The second advantage is China’s own vast market. This is why many American firms want the Trump administration to go only so far in its tussles with China, applying enough pressure to free up space for them, but not so much as to kill their opportunities. By one measure global firms look even more wedded to China, despite the trade war: over the past 18 months the value of foreign mergers and acquisitions in China reached its highest in a decade, reckons Rhodium Group, a research firm.
Yet this may be the high-water mark. Other countries are only too well aware of China’s manufacturing prowess—and that it leaves them vulnerable to critical shortages. That point hit home earlier this year, as they scrambled to buy ventilators and masks from China. From India to Taiwan, governments are offering loans, land and other perks to lure investors.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China's June factory activity quickens, but exporters struggle amid pandemicChina's factory activity expanded at a stronger pace in June, as the economy continues to recover after the government lifted strict lockdowns and ramped up investment, but export orders remained weak as the global coronavirus crisis shatters demand.
Read more »
Another 'Karen' Has Grocery Store Meltdown Over Masks, Throws FoodA new 'Karen' has emerged at a grocery store in Dallas, and she ain't happy about having to wear a mask either.
Read more »
Mainland China reports 12 new COVID-19 cases vs 17 a day earlierMainland China reported 12 new confirmed COVID-19 cases as of end of June 28, down from 17 reported a day earlier, the country's National Health Commission (NHC) said on Monday.
Read more »
China reports 12 new COVID-19 cases vs 17 a day earlierChina reported 12 new confirmed COVID-19 cases as of end of June 28, down from 17 reported a day earlier as the country's capital tries to curb a new wave of infections that emerged from a wholesale market in mid-June.
Read more »
China conducting mass sterilization on Muslim minorities that could amount to genocide: ReportThe Chinese government has deployed a mass sterilization campaign against Muslim ethnic minorities in the country's western provinces, according to a new report, which argues the tactics could amount to genocide.
Read more »