久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Policies

China gains market share as global trade rebounds: Morgan Stanley

CGTN | Updated: 2020-07-15 15:09
Share
Share - WeChat
A view of the Lujiazui area in Shanghai, East China. [Photo/Xinhua]

China has been gaining global market share in terms of trade as it appears to be the first to shrug off the global slump driven by the coronavirus pandemic, according to investment bank Morgan Stanley, CGTN reported. 

The worst of its trade performance has likely passed as it is expected to continue growing its import and export recovery this year alongside a global recovery, said Morgan Stanley Chief China Economist Robin Xing.

"I would say China's trade performance is enjoying a boost right now as it continues to gain market share ... and the worst of global demand is behind us," Xing told CGTN.

China's foreign trade rebounded sharply in June as recovery in the country gained traction aided by government stimulus which stoked demand for commodities while exports, fueled by medical goods, also rose.

In US dollar terms, both imports and exports came in above expectations. According to official data released on Tuesday, imports rose for the first time since the pandemic struck, by 2.7 percent year on year to $167.2 billion, bouncing from a 3.3-percent decline in May. Exports also rose by 0.5 percent to $213.6 billion, strongly beating expectations and showing signs of recovery.

A Reuters poll had earlier predicted a 10-percent fall in imports and a 1.5-percent contraction of exports.

Commenting on the latest data release, Xing said two things stood out, namely the strong export numbers, and broadening export performance beyond non-medical goods.

"It (exports) beat expectations and it's not the first time, but for the fourth month in a row. Second, this strong export performance broadened to non-medical goods."

"So over the past three months, when the external shock was at its peak, from March to May period, China's exports held up because it was gaining market share, it was largely driven by medical equipment and computers. So now we are seeing a more broad-based export recovery, expanding to things beyond just medical areas," said Xing.

Xing explained that China was regarded as a country that managed to be "first in-first out" of the COVID-19 situation, and now it's bolstered by signs of recovery in the global trade.

Morgan Stanley: China GDP to return positive in Q2

Xing also said Morgan Stanley predicts China's second quarter (Q2) GDP growth will be back to positive, which was a pace much faster than the market expected a couple of months ago.

"It is on track to return to pre-COVID-19 by potential growth level in quarter four (Q4)," he said.

On the country's long-term prospects given calls for a shift in supply chain management, Xing said that China remained a large base for manufacturing, citing examples of Tesla and Apple, both of which are retaining, and for the former, even expanding their base.

"They (large businesses) have been encouraged by China's ramp up post-COVID-19 shock … not planning any dramatic shift from relying on partners in China, noting that production coming back so quickly from COVID-19 disruption really demonstrates China's durability and resilience," he said.

Xing said that the focus in the first half of 2020 was geopolitical tensions, particularly US-China trade tensions, but the discussions in the next couple of years seem to have shifted.

"The discussions have shifted to business continuity, and the relative advantage that China has in this context over other countries, in particular, some large multinational firms," he said.

However, he said that there may be some diversification in the supply chain, though several companies have said they are employing a so-called "China plus one" strategy.

"Most of them are employing cash preservation and costs (reduction strategy), which will limit the scope of such diversification."

"Over the longer run, the discussion may shift to automation, and the increased use of robots and leveraging technology like 3D printing. China is investing in things like new infrastructure, like 5G which could further boost China's reliance in the global supply chain," he said.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 福利岛国深夜在线 | 女人野外小树林一级毛片 | 欧美一级特黄刺激爽大片 | 国产精品视频男人的天堂 | 视频精品一区 | 欧美在线一区二区三区欧美 | 欧美特黄视频在线观看 | 高清国产露脸捆绑01经典 | 国产成人女人在线视频观看 | 国产专区一区 | 成人a免费视频播放 | 日韩三及片| 国产精品日韩一区二区三区 | 97久久曰曰久久久 | 亚洲免费视频一区二区三区 | 亚洲依依成人综合在线网址 | 久久伊人男人的天堂网站 | 精品久久久久久中文字幕 | vr18成人资源 | 萌白酱福利视频 | 精品一久久香蕉国产二月 | 特黄特色一级特色大片中文 | 小屁孩和大人啪啪 | 欧美人成毛片在线播放 | 欧美一级俄罗斯黄毛片 | 日本免费一级 | 亚洲国产欧美日韩精品一区二区三区 | 99小视频| 亚洲国产精品自产拍在线播放 | 亚洲免费色 | 免费看美女无遮掩的软件 | 国产普通话一二三道 | 色综合久久久高清综合久久久 | 亚洲一区二区三区高清视频 | 有码一区 | 一级做a爰片久久毛片欧美 一级做a爰片久久毛片人呢 | 亚洲精品中文字幕在线 | 亚洲精品视频专区 | 欧美高清一级毛片免费视 | 国产三级在线 | xxxwww黄色 |