Subtitles section Play video Print subtitles China's economic recovery might be a little hard for critics to take in 2021 theme countries. Quick containment to Cove in 19 has allowed President Xi Jinping too quickly restart his manufacturing sector. That, in turn, combined with foreign discombobulation, has allowed China incorporated to taken unprecedentedly high share of global export trade. It's unsurprising that China has outperformed peers first into recession. Draconian measures help the country leap out first to. But even as Beijing sealed off the viral epicenter in hub, flights from China kept landing at overseas airports, setting off a pandemic that might shrink the global economy by 5% in 2020 according to World Bank estimates. Yeah, well, Chinese import demand has been weak. Exports have been doing very, very well. The country has managed to surpass 14% of global export trade, the highest share any country has enjoyed. Since 1981 companies have cashed in on foreign demand for medical supplies. They've been able to keep filling overseas orders by trapped shoppers. In November, the country's trade surplus hit $75 billion another record high. In short, overseas demand has done a lot more to help China recover than the other way around. Some will find that going there might be another irritant in the offing. The yen has rallied over 6% against the dollar in 2020 and that's positioning Chinese companies to restart overseas dealmaking. Diplomatic tensions may keep barriers up in Western markets in Australia. The poor nations in Asia, Africa and Latin America may be happy for Chinese buyers to rescue struggling local champions. Some may not even have any choice for politicians who are trying to contain China. Before Cove in 19 wrecked their economies, watching it snap up distressed assets, maybe a bitter pill to swallow, they might have to choke it down anyway.
B2 china overseas demand chinese export restart Breakingviews TV: Bitter pill 5 0 林宜悉 posted on 2020/12/31 More Share Save Report Video vocabulary