China s exports to the United States fell by 13.8 !What are the top two importers to the United Stat

Mondo International Updated on 2024-01-30

In the first 11 months of this year, China's total foreign trade import and export volume was flat, and exports achieved 03% growth, ** surplus of more than 52 trillion yuan. Although the data shows that China's foreign trade exports have begun to recover, in fact, this is mainly because the epidemic last year had a greater impact on the export base. At the same time, the economic situation in the United States and Europe is not optimistic, and external demand may weaken further. This has formed a certain constraint on the growth of China's foreign trade and exports.

According to the data, ASEAN has become China's largest partner, and the amount between China and ASEAN reached 825.5 billion US dollars in the first 11 months of this year. Although the decrease in ** amount reached 55%, but this is mainly due to the impact of the epidemic and other factors. At the same time, the EU remains China's second largest partner, with a total of $716.3 billion. However, exports to the EU fell by 11%. The most concerning thing is that the United States has fallen from China's largest partner to the third, with a value of $607 billion in the first 11 months of this year, and exports to the United States fell by 138%。At the same time, Mexico and Canada became the top two importers to the United States.

There are two main reasons for the decline in U.S. exports to China. First of all, Mexico and Canada are geographically close to each other, making them the preferred places for the United States to promote "entrepots**". Second, the United States signed the USMCA with Mexico and Canada, removing ** restrictions and tariffs. This has also led to a rapid increase in exports from Mexico and Canada to the United States.

However, we also have to note that Mexico is similar to a transit point for Chinese exports, with a large number of Chinese goods entering the U.S. market through Mexico. Data show that last year, the amount between China and Mexico reached 100 billion US dollars, of which the number of exports to Mexico was as high as 77.5 billion US dollars. This means that Mexico acts as a "middleman" between China and the United States, becoming the largest exporter to the United States.

The changes in China's foreign trade exports show the changes in China's role and status in the global pattern. In the past few decades, China has become the world's factory and the main partner of the United States by virtue of its low labor costs and the competitiveness of its manufacturing industry. However, with the development of the domestic economy and the upgrading of the industrial structure, China is moving towards the path of high-quality development. This means that China needs to improve its independent innovation capabilities, improve product quality and added value, and shift from traditional low-cost labor output to technology and quality output.

At the same time, the challenges facing China's foreign trade exports are gradually increasing. The outbreak of the epidemic has caused the global economy to fall into recession, and the slump in external demand is a major pressure on China's foreign trade exports. In addition, the intensification of international friction has also brought uncertainty to China's foreign trade.

In the face of these challenges, China needs to further strengthen its innovation ability and technical level, improve product quality and added value, and open up diversified international markets. At the same time, strengthen cooperation with ASEAN and other potential partners to find new growth points. In addition, China also needs to accelerate the construction of free trade zones, improve the level of facilitation, and reduce import and export costs.

In short, the changes and adjustments in China's foreign trade exports are a microcosm of China's economic transformation and upgrading. By adapting to and responding to changes in the external environment, I believe that the quality and efficiency of China's foreign trade exports will be further improved, and make greater contributions to the sustainable development of China's economy.

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