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In the global economic map, the status of partners and the amount of each other are important indicators to measure the economic strength of countries and the closeness of diplomatic relations.
In recent years, with the rapid changes in the global economic environment and the reshuffling of multilateral relations, the structure between countries is also undergoing unprecedented adjustment. In particular, China, the world's second-largest economy, is particularly concerned about the changes in its network of partners.
According to the latest data, the ** share of the United States fell to 116%, the United States is no longer China's largest partner, but the third, this change not only marks a new chapter in Sino-US relations, but also indicates a major adjustment of the global pattern.
So, who replaced the United States as China's top two partners?
The United States has gradually decoupled
Driven by the wave of globalization, the international market has become a link connecting the economies of all countries in the world, and plays a vital role in promoting national economic growth, improving living standards, and enhancing international competitiveness.
In the process of economic globalization in the past few decades, the United States has always been one of China's most important partners, however, with the continuous growth of China's manufacturing industry and the improvement of comprehensive strength, this situation is also changing.
The United States, the world's largest economy, gradually became weak-hearted and began to encircle and intercept China, find a way to withdraw the high-end manufacturing industry in China, and then move to the United States, Japan and South Korea; The low-end manufacturing industry here in China is trying to move to Southeast Asia, Mexico, and India.
But in those places, the diversity of products that can be produced is insufficient, or high, and to put it bluntly, there are no industrial clusters, and the goods produced are expensive.
On the global economic stage in 2023, the relationship between China and the United States has undergone significant changes. The annual bilateral ** amount reached 6644$5.1 billion, down from $11.1 billion in the previous year6%。
This downward trend is especially evident in China's exports to the United States, which were valued at 5,002$9.1 billion, down 131%。
This change marks an important realignment of the U.S. position in China's network of foreign trade partners.
In fact, the biggest price of decoupling and breaking the chain in the United States is such a commodity, which pushes up inflation in the United States.
Since the decoupling of the United States and China, the performance of the ** data is also obvious, and the behavior of the United States has made the global ** chain more complex, and the costs and potential risks are also rising.
The most intuitive feeling is that income growth is limited and the cost of living is rising.
The EU is following decoupling
Who is China's second largest partner?
At present, although the EU is still China's second largest partner, it is under the influence of the so-called "de-risking" strategy pursued by the EU, which is actually an act of decouplingThe ** amount of both sides has appeared in 2023 by 19% of the decline, the total fell to 551 trillion yuan, accounting for 132%。
This reduction in the amount of China has further widened the gap between China and ASEAN compared with the EU, which means that in China's foreign trade structure, ASEAN's status is gradually rising, while the relative importance of the EU has declined.
From the point of view of China's foreign trade structure, this change means that China is reducing its dependence on traditional major partners and instead strengthening its ties with other regions.
In particular, the continuous growth of the quota with ASEAN has further widened the gap with the EU, reflecting China's active efforts in promoting regional economic integration and deepening regional cooperation.
With exports to the EU declining, Chinese companies are likely to accelerate the transition to high value-added and technology-intensive products to meet the European market's demand for high-quality, more environmentally friendly products.
This will not only help improve the competitiveness of Chinese products in the international market, but also promote the transformation, upgrading and sustainable development of China's manufacturing industry.
The reduction of the proportion of the European Union is actually one of the main measures of China's pursuit of diversification.
In recent years, China and emerging markets and developing regions such as Latin America, Africa and Oceania have continued to grow, and these regions will be strengthened in the global network.
This not only contributes to the economic development of these regions, but also provides a new growth point for Chinese enterprises, which also reflects the gradual shift of the global economic center of gravity and the strengthening of the multipolar trend.
For example, China and Africa grew by 15%, although the increase is not large, it has played a positive role in promoting infrastructure construction in Africa and improving the level of local industrial chains.
The investment of Chinese enterprises in Africa has not only boosted local employment, but also promoted the transfer of technology and experience, injecting new vitality into the long-term development of the African economy.
Who is China's largest partner?
In 2023,Despite the complexity and challenges of the global environment, China's ASEAN relations have continued to grow, marking the fourth consecutive year that ASEAN has become China's largest partner.
This phenomenon not only highlights ASEAN's important position in China's foreign trade, but also reflects China's active exploration in multilateral agreements and regional economic cooperation.
In the face of the declining status of the United States as a leading partner, China is diversifying its network of partners by strengthening its relations with emerging market countries and regions such as ASEAN, India, and Russia.
The implementation of this strategy is not only a response to the current international challenges, but also an important way for China to promote its own high-quality economic development.
ASEAN, as China's largest partner, has a total of 9,117 with China$1.8 billion, although down 4.8 billion year-on-year9%, but still occupies an important position.
Vietnam, Malaysia and Thailand, as the three largest ASEAN countries, have a particularly noteworthy relationship with China.
The best growth between China and these countries not only helps Chinese enterprises to expand the Southeast Asian market, but also promotes China's export growth in the fields of electronics, machinery and equipment, and consumer goods.
It is worth noting that China's relations with India and Russia have also shown new growth points. India's cumulative total imports and exports increased by 1 year-on-year5%, while the cumulative total value of imports and exports in Russia increased significantly by 26 year-on-year3%。
These figures reflect that despite the uncertain global environment, China has successfully opened up new markets and growth points by strengthening economic cooperation with these countries.
In the face of changes in the status of the United States,China is seeing both challenges and opportunities. On the one hand, this requires Chinese enterprises to accelerate the pace of innovation and improve the international competitiveness of products and services. On the other hand, it also provides an opportunity for China to strengthen cooperation with other economies around the world and build a more diversified network of partners.
For example, by participating in and promoting the implementation of multilateral** agreements such as the Regional Comprehensive Economic Partnership (RCEP) and the China-Central Asia Economic Cooperation, China will not only be able to further integrate the Asian market, but also promote economic exchanges with the wider Eurasian region.
In this process, China's strategy is clearly seeking balance and diversity. By deepening cooperation with traditional partners and actively exploring emerging markets, China is building a more balanced and resilient global network.
This will not only help China resist the volatility risk of the international market, but also lay a solid foundation for the sustained and healthy development of China's economy and contribute to the stable growth of the global economy.
February** Dynamic Incentive Program