China’s exports are steadily falling as a share of gross domestic product in a decline that could soon make the country less reliant than India on sales abroad.
The shift highlights the growth in the Chinese domestic economy, which could make Beijing better able to withstand trade tensions under US president Donald Trump, who has threatened to hit the country with punitive tariffs.
“It’s not that since then we haven’t seen any export growth, but global trade is growing significantly slower than China’s own economy,” said Louis Kuijs, head of Asia economics at Oxford Economics, a consultancy.
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