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Contrary to a meme that’s popular among Western policy analysts, there is no Chinese “export surge.” China’s exports to developed markets have stagnated for years, but have doubled to the Global South.
Japan, along with the rest of the world, is watching with growing unease the seemingly unending turbulence of the American presidential election campaign.
The European Union (EU) remains an attractive market for China’s automakers even after the bloc imposed 17-38% tariffs on Chinese electric vehicles (EVs) earlier this month, said a Hong Kong-based prominent academic.
Both Trump and Biden imposed high tariffs on imported products made in China and other countries. Those impositions broke with and departed from the previous half century’s policies favoring “free trade” (less or minimal government intervention in international markets).
Given the spate of news about international trade lately, Americans might be surprised to learn that the United States isn’t very dependent on it. Indeed, looking at trade as a percentage of gross domestic product (GDP) – a metric economists sometimes call the “openness index” – the US is one of the least trade-oriented nations in the world.