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CHINA / DIPLOMACY
Trade record predicted for 2021, ‘more confidence’ to solve disputes with US
By GT staff reporters Published: Apr 14, 2021 12:39 AM Updated: Apr 14, 2021 12:41 AM
An aerial photo taken on Nov. 3, 2020 shows the container dock of Yangshan Port in Shanghai, east China. (Xinhua/Wang Xiang)
There is a high likelihood that China and the US will post a bilateral trade record this year, experts said, as their industries and economies are closely intertwined and cannot be decoupled, despite ongoing geopolitical spats and some US politicians hue and cry intended to stem China s rise.
The inseparable China-US economic relations are reflected in the two countries trade data. Although no moves have been taken yet to remove the trade-war tariffs, China-US bilateral trade started to take off around mid-2020 in the depths of the pandemic and has showed no signs of abating into 2021.
US recovery a boon for Chinese exporters
Is the US going through a strong wave of consumption rebound as the country’s economy restarts after the coronavirus’ impact? Taking the business of some Chinese exporters who rely heavily on the US market, the answer is yes.
From fireworks to medical equipment makers, Chinese businesses are seeing increasing orders from US customers, a situation they attribute to multiple factors such as rising appetite of some US clients and decreasing shipping fees.
US President Joe Biden’s $1.9 trillion American Rescue Plan also played a part in lifting the demand, although the impact was not as large as Chinese exporters had expected.
SOURCE / ECONOMY
President’s fiscal largesse leads to Americans’ rising demand
By GT staff reporters Published: Apr 07, 2021 08:08 PM
A worker sews an oil-paper umbrella in a factory in Wuyuan, East China s Jiangxi Province over the weekend. With a history of more than 1,000 years in China, oil-paper umbrellas were once water-proof accessories for daily use. In recent years, they have been exported to countries like Japan and the US. Photo: cnsphoto
Is the US going through a strong wave of consumption rebound as the country s economy restarts after the coronavirus impact? Taking the business of some Chinese exporters who rely heavily on the US market, the answer is yes.