China Bolsters Its Dominance of Global Trade

• China is cementing its status as the world’s dominant trading nation, confounding warnings that a once in a century pandemic combined with simmering tensions with the U.S. would derail that status.
• Surging global demand for everything from hazmat suits to work-from-home technology has allowed China, which contained the virus months ago, to capture record market share of global exports by quickly reopening its factories while the rest of the world grappled with lockdowns. It’s a striking reversal from the first two months of the year when China’s exports contracted by 17.1%.
• It’s also an outcome that underscores the nation’s enduring role in manufacturing even amid simmering tensions with the U.S. that have fueled talk of shifting supply chains. For all the tariffs levied by the Trump administration, monthly sales to the U.S. remain robust.

(Source: Bloomberg)