US exports to China increased last year, but the data is ‘misleading’ according to the Peterson Institute of International Economics and the ‘two economies are becoming less directly interdependent’.
China’s exports fell by 6.8 per cent in combined figures for January and February compared with a year earlier, while imports fell by 10.2 per cent, data released on Tuesday showed.
Makers of automobiles and smartphones have been hardest hit, with years of rapidly deteriorating sales in the mainland Chinese market. And major players are diversifying their supply chains to places such as India.
Still banned in mainland China, the Taiwanese fruit has found buyers in the Bruneian market, and the move is seen as a ‘breakthrough’ in the island’s search for new export destinations.