In the first 11 months of this year, South Korea ran a huge deficit with China**, reaching a cumulative $18 billion. This is the first time in 31 years that South Korea has had a deficit with China since the establishment of diplomatic relations with China in 1992. South Korea's exports amounted to $114 billion, while imports from China reached $132 billion. This phenomenon has shocked and worried both South Korea and **.
According to the Korea Association, this deficit phenomenon is mainly due to the transformation of China's ** structure. Demand in the Chinese market is becoming more driven by domestic demand, and many Chinese companies that previously needed to import intermediate materials and products from South Korea have been able to become self-sufficient, reducing the demand for Korean products. This change has had a huge impact on South Korea**. In addition, the U.S. sanctions against China have also led to South Korea'sSemiconductorsExports have fallen sharply.
South Korea ** willBatteryThe market is positioned as the direction of development, so it is necessary to import a large number of raw materials and mineral products from China. South Korea is making great progressBatteryThe market, hoping to fill the current ** deficit through this move. However, the Chinese market has become relatively self-sufficient, and South Korea has less and less to sell in the Chinese market.
KoreanSemiconductorsThe industry is one of the main surpluses with China. However, as U.S. sanctions against China escalate, South Korea'sSemiconductorsExports have encountered major challenges. Data shows that in the past 10 years, more than half of South Korean chips have been sold to China, and the proportion was even close to 67% at one point. And this year, that proportion will fall even further.
South Korea** adopted a roundabout strategy, signed a cooperation agreement with the Netherlands, hoping to resistChina and the United StatesThe pressure of the chip war. However, it is difficult to say whether this strategy will actually be effective. Compared to the huge Chinese market, South Korea's cooperation with the Netherlands is limited in scale, theseSemiconductorsThe company is still at risk of a shrinking market.
Yoon Suk-yeol has always pursued a policy of "** and has followed the United States in imposing various sanctions on China. However, this approach has led to a decline in the enthusiasm for cooperation between China and South Korea. InChina and the United StatesEconomyIn the confrontation, South Korea** was forced to choose, and Yoon Suk-yeol himself lost the support of some of the people.
China has taken a number of countermeasures against South Korea's deficit. Recently, China has been rightGraphiteThe restriction order came into effect, leading to South Korea'sBatteryEnterprises are facing the dilemma of raw material shortages. In addition, China's against South KoreaUreaExports have also tightened. The purpose of these measures is to meet domestic demand first.
KoreanEconomyThe outlook remains uncertain. With the escalation of U.S. sanctions against China and the increasing self-sufficiency of the Chinese market, South Korea** needs to seek new export markets and strengthen the competitiveness of its domestic industry. Yoon Suk-yeol should re-examine his China policy and take more pragmatic measures to promote economic and trade cooperation with China to avoid further increasing the deficit.
Self total KoreanEconomyRecently, the "big" deficit with China has reached a record high of $18 billion. According to analysis, this is mainly due to the transformation of China's ** structure and the impact of the US sanctions policy against China. The Chinese market has gradually shifted to be driven by domestic demand, and many Chinese companies have been able to become self-sufficient in intermediate materials and products, reducing demand for Korean products. Also, KoreanSemiconductorsExports have also been hit by U.S. sanctions. In this context, South Korea willBatteryThe market is positioned as the direction of development, but the Chinese market has basically achieved self-sufficiency, and South Korea can sell less and less things to China. South Korea and China have undergone a "two-level reversal" in the landscape, and South Korea needs to seek new export markets and strengthen the competitiveness of its domestic industry. Yoon Suk-yeol has always pursued a "** policy, but this has led to a decline in the enthusiasm for cooperation between China and South Korea. China has taken a series of countermeasures to make South Korea'sBatteryEnterprises are facing the dilemma of raw material shortages. KoreanEconomyThe outlook is still uncertain, and it is necessary to re-examine our China policy and strengthen economic and trade cooperation with China.