{"id":121003,"date":"2021-09-07T10:53:10","date_gmt":"2021-09-07T10:53:10","guid":{"rendered":"https:\/\/fin2me.com\/?p=121003"},"modified":"2021-09-07T10:53:10","modified_gmt":"2021-09-07T10:53:10","slug":"decoupling-from-china-isnt-easy-just-look-at-the-ppe-market","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/decoupling-from-china-isnt-easy-just-look-at-the-ppe-market\/","title":{"rendered":"Decoupling from China isn&#39;t easy. Just look at the PPE market"},"content":{"rendered":"<p><cite>Hong Kong (CNN Business)<\/cite>China&#8217;s trade with the rest of the world surged to record highs last month, easing fears that a stubborn coronavirus outbreak and the global shipping crisis were stalling the economy.<\/p>\n<p>Exports spiked 25.6% in August from a year ago to $294.3 billion, according to customs statistics published Tuesday. Imports jumped 33.1% over the same period to $236 billion. Both figures were the highest on record.<br \/>\nThe massive growth compares to 2020 figures made worse by the impact of the coronavirus pandemic, but August&#8217;s numbers were also well above economists&#8217; expectations, and stronger than gains seen in July. <\/p>\n<ul><\/ul>\n<p>For the first eight months of 2021, exports and imports rose 34% and 35%, respectively, compared with the same period last year. China&#8217;s trade surplus hit $362.5 billion, up nearly 30%.<\/p>\n<ul><\/ul>\n<p><img decoding=\"async\" alt=\"China&amp;#39;s economy is being rattled by the Delta variant and supply chain woes\" class=\"media__image\" src=\"\/\/cdn.cnn.com\/cnnnext\/dam\/assets\/210831090655-china-coronavirus-0826-restricted-large-169.jpg\"><br \/>\nThe surprisingly solid trade data &#8220;points to resilience&#8221; in the Chinese economy, said Louis Kuijs, head of Asia economics at Oxford Economics.<\/p>\n<p>&#8220;While near-term headwinds remain, supply constraints in China have eased and we think the global economic recovery will continue to underpin China&#8217;s exports in the end of this year and in 2022,&#8221; he wrote in a research report on Tuesday.<br \/>\nExports were aided by shipments of electronics and household appliances. The United States was China&#8217;s top export market: The country bought $51.7 billion worth of goods in total in August.<br \/>\n&#8220;The bottom line is that China&#8217;s trade data continues to act to mitigate against the impact of slowing domestic growth,&#8221; said Mitul Kotecha, chief emerging Asia and Europe strategist for TD Securities.<br \/>\nThe Chinese economy has weathered the Covid 19 pandemic stronger than other major economies.<br \/>\nBut it faces a lot of challenges. Recently, China experienced its worst coronavirus outbreak in a year spurring authorities to take dramatic measures to stop new infections, including locking down cities, canceling flights and suspending trade.<br \/>\nSupply bottlenecks and tighter credit conditions have also weighed on activity, while a sweeping regulatory crackdown on tech, education and other sectors has shaken investor confidence and wiped trillions of dollars off the market value of Chinese companies.<br \/>\nRecent survey data has pointed to a shaky economy. An official survey of manufacturing activity last month indicated the lowest rate of growth since the start of the pandemic, while a private survey showed the first contraction since April 2020. Services industries also suffered, with the official non-manufacturing survey registering the first contraction since February 2020.<br \/>\nTrade had also been a big concern. Last month, authorities shut down part of Ningbo-Zhoushan port \u2014 the world&#8217;s third largest container port \u2014 for weeks after a dock worker tested positive for Covid. The port handles goods that would fill around 78,000 20-foot containers every day. That triggered worries that it could exacerbate the congestion at Chinese ports and add extra disruption to an already stretched supply chain.<\/p>\n<ul><\/ul>\n<p>But Goldman Sachs economists said on Tuesday that port disruptions in Ningbo appeared to have &#8220;limited impact&#8221; on trade activities.<br \/>\nIt was &#8220;likely because lockdown restrictions at ports were relatively targeted and throughput volume was redirected to nearby ports,&#8221; they said in a research note.<br \/>\nSource: <a href=\"https:\/\/edition.cnn.com\/2021\/09\/07\/economy\/china-trade-august-covid-intl-hnk\/index.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hong Kong (CNN Business)China&#8217;s trade with the rest of the world surged to record highs last month, easing fears that a stubborn coronavirus outbreak and [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":121002,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Decoupling from China isn&#039;t easy. 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