China'S Exports To The United States Suffer From "Cold Wave"

Although the renminbi has fallen nearly 6% against the US dollar so far this year, Thomas Costerg, senior economist at Standard Chartered Bank, said that he did not believe that this was the reason why China's exports to the US declined, as these exports had always been calculated in dollars rather than in.

China's exports to the United States will drop this year, which is the world's total in 2009.

For the first time.

According to the Standard Chartered's annual data in the first 10 months of 2016, the value of China's exports to the US decreased by 4.7%.

The announcement came as the US President Trump threatened to impose a 45% tariff on Chinese goods. Standard Chartered said that exports to the US could decline further in the next few years.

Between 2010 and 2015, China's exports to the US increased by an average of 5.6% per year, exceeding the annual growth rate of the nominal GDP of the United States by 3.7%.

Thomas costar, who believes that the decline in exports of electronic products is the main reason for China's decline in exports to the US.

In the first 10 months of this year, China's total exports of mobile phones, tablets, laptops and related accessories to the US decreased by 4.8%, compared with 28% of China's exports to the US in 2015.

Data from the US Department of Commerce and International Trade Commission (ITC) show that in the first 10 months of this year, the number of mobile phones imported by the United States dropped by 4.9% to 176 million due to the decline in interest in new electronic products.

Kost G said: "we note that the recent decline in mobile phone sales in the United States" indicates that this may be related to the product cycle.

The contraction of exports of electronic products may be the main reason for the decline in China's exports to the US. He said: "I think the market for mobile phones and tablet computers in the United States has been saturated."

Unless there are new ones.

Products will appear, otherwise the import of electronic products in the US is unlikely to rebound.

Exports of clothing and footwear declined more seriously.

Compared with the same period last year, footwear exports slumped by 14.4% in the first 10 months of 2016, from 14 billion 900 million US dollars in the same period last year to US $12 billion 700 million, while clothing and clothing accessories exports decreased by 9% and exports amounted to US $27 billion.

As of 2015, 62.5% of the footwear products imported from the United States came from China, but as China's labor costs rose, its market share in the United States was rapidly eroded by Vietnam, the latter in the first 10 months of this year.

The total export volume increased by 12.4% to 4 billion 100 million US dollars, and the total export of clothing and clothing products increased by 2.3% to 9 billion 200 million US dollars.

Kost G has noticed this phenomenon. He believes that there is a long-term structural change in the export market of East Asia. Competition from Vietnam and other low wage Asian economies is becoming more intense. Chinese goods are facing a "squeezed" situation in export competition.

However, Gareth Leather, senior Asian economist at Capital Economics, believes that China's exports to the US (in US dollars) will rebound in the coming months.

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