The data shows an almost cliff-like drop in China’s exports worldwide. Exports to the United States dropped 24%, to Europe 13%, to the Association of Southeast Asian Nations (ASEAN) 17%, to Japan 16%, to South Korea 20%, to India 14%, and to Brazil 4%. The only exception was China’s exports to Russia, which surged by 90%. However, given Russia’s economy is smaller than China’s Guangdong province, even this export boom to Russia could not make up for China’s plummet in global trade.China’s foreign trade is teetering on the brink of collapse. As we delve into the specific data and facts in the analysis that follows, it will reveal the severity of this issue. The reality we must face is that China’s exports are no longer the spectacle they once were.#export #chinaeconomy #chinaobserver
