The global economic balance is shifting. 🌏
China’s trade with the Global South is outpacing its ties with the West, reshaping global trade patterns. What’s fueling this transformation? Watch to find out.
#China #GlobalSouth #BRICS #Trade #Economy
China’s trade with the Global South is outpacing its ties with the West, reshaping global trade patterns. What’s fueling this transformation? Watch to find out.
#China #GlobalSouth #BRICS #Trade #Economy
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NewsTranscript
00:00China is expanding its global trade footprint across the global south, according to CGTN
00:06Europe analysis of official statistics. Countries in Africa, Asia and Latin America have deepened
00:12their trade ties with China at a faster rate than with Europe and the US. China does more
00:18external trade than any other country, accounting for more than 14% of the global total. Fifty
00:24years ago, it was less than 1%. Most of that business has been with the biggest, most mature
00:30Western economies, and that's still growing. But exports from China to the global south
00:36have surged, growing more than 111% in the past decade. Meanwhile, exports to the most
00:42developed countries are up 62%. So developing nations are buying more Chinese goods, but
00:49more is coming into China from the global south. Those imports are up 47% since 2014.
00:57Spurred by China's big infrastructure investment scheme, the Belt and Road Initiative, China's
01:02investment in the global south is growing too. Three quarters of China's overseas investment
01:08is in places with Belt and Road projects. So as Donald Trump talks about protecting
01:13home markets, stoking fears of trade wars with new, steep tariffs, China has been steadily
01:19bolstering itself against economic shocks by diversifying its imports and securing new markets.