What Do China’s Import & Exports Mean for the Rest of the World?
China, the world’s largest exporter, has reported its latest import and export numbers – and they might surprise you.
While exports came up shy of projected growth (but still saw a 27.9% jump), the country’s import numbers exploded. The country saw a 51.1% spike in import value, the fastest pace it’s seen in a decade. So, what factors are driving that growth in imports, and what does it mean for the rest of the world’s economies and the global economy as a whole?
To get some insight, host and Voice of B2B Daniel Litwin invited attorney John M. Scannapieco to this episode of MarketScaleTV. Scannapieco, chair of Baker Donelson’s Global Business Team, brings a business consultation perspective to the discussion, with years of experience advising companies on their Chinese business strategies.
The two tried to provide some global context for China’s economic shifts. How is China working to building manufacturing independence? Could U.S. sanctions on the country be accelerating the nation’s manufacturing independence? How are supply chain disruptions in the wake of COVID-19 continuing to linger, even with growth occurring? What impact do the still-rising prices of commodities have on China’s economy and its position in the global economy at large?
Litwin and Scannapieco answered these questions and more in an effort to paint a clearer picture of what the world’s economy might look like as the post-pandemic dust continues to settle.
Follow us on social media for the latest updates in B2B!