22 Sep, 2020 03:45 am

China’s export machine comes roaring back to life

China’s export machine comes roaring back to life
Shenzhen: China’s export machine was under pressure from all directions last year. A trade war with the US was weighing on demand and competition from other manufacturing hubs was heating...

In South Korea, exports of information and communications technology products rose year on year in each of the past three months after a sharp fall in April.New cases have remained lower in China, Taiwan and South Korea than in the US and Europe.In addition to the kind of soaring exports of electronics also seen in Taiwan and South Korea, Chinese exports of medical equipment leapt in the first seven months of the year.That is reflected in South Korea, where electronics and medical consumer products have performed well but “heavy industries” such as shipping and autos have struggled.

In Taiwan and South Korea, experts suggest exports were also supported by demand from Huawei ahead of the latest US sanctions against the Chinese company.“It is too early to write off China’s role in global supply chains,” said Louis Kuijs from Oxford Economics, who pointed to the “fundamental competitiveness” of Asian economies.

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