China grasps the biggest share of global exports in 50 years
China’s exporters have discovered a silver lining in quite poor global demand. As a result, they’ve managed to grasped market share from their rivals. Undoubtedly, that’s upbeat news for China.
In fact, last year China’s proportion of global exports surged from 12.3% to 13.8%, as the United Nations Conference on Trade and Employment states. China has dared to grab the highest market share since 1968.
The success actually belies popular forecasts as for surging costs for Chinese labor and the Yuan, which has surged almost 20% against the greenback for the last decade, would probably make China lose its hard-earned market share to cheaper rivals.
Instead, China’s manufacturing infrastructure created during its industrial rise for recent decades is suppressing exports, while providing the basis for companies to manufacture higher-value products.
Many financial analysts agree that China can’t be easily replaced in the nearer future. Furthermore, they stress that reliable delivery times are even fare more superior than even competitive prices.