China’s Voluptuous Economy Steps On The West While Other Nations Refuse To Peg
this post was submitted on 03 Sep 2024
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From what I understand it's not so much that China 'still reigns as Export King', but that their exports are growing and breaking records. Plus, the reason Bloomberg has to look at port volumes instead of just logging onto some sort of online platform that tracks dollar transactions is because China now trades more with non-western nations than with western countries. AND said trades are settled outside the dollar system.
Finally, the Chinese government is just smart about their subsidies. When a chinese company pays tariffs abroad they can apply for correspondent subsidies. Much better than the no strings attached praise the free market approach in the libertarian west.
Indeed, and on a related note, all the talk about Chinese economy slowing down based on cancellation of orders from the west is also flawed analysis since the west has no visibility into trade outside the dollar. It's more likely an indication that China is just importing things it needs from friendly countries.