It’s important to observe that, whilst our media generally focuses on the trading relationship between China and the West, there has been a dramatic surge in Chinese exports to the ‘Global South’, which includes:
- Turkey
- India
- Indonesia
- Vietnam
- Thailand
- Malaysia
- Philippines
- Brazil
- Mexico
- China’s trade with the Global South plus South Korea and Taiwan is now as large as its combined exports to the US and Europe.
- Chinese exports to Mexico are now 16% of the country’s total, including investments of US$5.8 billion, as “Chinese companies are moving facilities out of the United States”.
- Brazil has received more than half of all Chinese investment in Latin America – around US$66 billion
- Turkey’s imports from China have tripled since 2018. China is also Turkey’s largest export market.
- India’s consumption of Chinese goods has doubled in two years