Bangkok (AP) – The Chinese economy extended to an annual rate of 5.4% in January -March, the government announced on Wednesday, supported by strong exports before the rapid increases from US President Donald Trump prices on Chinese products.
With the trade war disturbing the prospects, analysts predict that the second world economy will slow down considerably in the coming months, however, rates of up to 145% on American imports from China take effect. Beijing retaliated in the United States with 125% tariffs on American exports, while highlighting its determination to keep its own markets open to trade and investment.
Chinese chief Xi Jinping visits Visit several other Asian countries this week as it pleads in terms of free trade, presenting China as a source of “stability and certainty” in uncertain times.
Xi visited Vietnam, Malaysia and Cambodia, while the United States has announced that a senior state department, Sean O’Neill, would go to the capital of Vietnam Hanoi this week and Ho Chi Minh Ville, Siem Reap from Cambodia and Tokyo.
China has also highlighted its accent on trade with countries other than the United States of various salons which present its vast market and its competitiveness as a manufacturing giant.
During the Chinese Canton fair, in the city in the south of Guangzhou, exporters were categorical about the need to look beyond the sale to the Americans.
“We have to diversify our market. When the West is dark, it is brilliant. The global market is enormous, “said Wallace Huang, commercial director of exports at Guangdong Weking Group, who makes rice bakers. “In recent years, our exports to the United States have slowly decreased.”
The commercial factor
Exports have helped the Chinese economy develop at an annual rate of 5% in 2024 and this year’s official objective is around 5%.
In the short term, prices will exert pressure on the Chinese economy, but they will not derail long-term growth, journalists Sheng Laiyun, spokesperson for the National Bureau of Statistics, told journalists. He noted that China exports to the United States fell to less than 15% of total exports by more than 19% five years ago.
“The China’s economic foundation is stable, resilient and has great potential. We have confidence, ability and confidence to deal with external challenges and achieve our established development objectives, “said Sheng.
In quarterly terms, the economy increased by 1.2% in January-March, slowing 1.6% in the last quarter of 2024.
Chinese exports jumped more than 12% compared to the previous year in March and almost 6% in US dollars in the first trimesterAs companies rushed to beat Trump’s prices. This has supported a robust manufacturing activity in recent months.
