Chinese markets have taken a tumble in the wake of Donald Trump’s historic election victory, amid fears the president-elect will impose high tariffs on Chinese goods.
Economists are talking about China “front-loading” exports for the final quarter of 2024 to beat Trump’s tariffs, which could begin in the third quarter of 2025. Factories in China are already increasing production in an attempt to flood the market with goods before Trump takes office.
Voice of America News (VOA) reported that outbound shipments from China “grew at the fastest pace in over two years in October as factories rushed inventory to major export markets in anticipation of further tariffs from the U.S. and the European Union.”
“Trump’s tariff threat is rattling Chinese factory owners and officials, with some $500 billion worth of shipments annually on the line, while trade tensions with the EU, which last year took $466 billion worth of Chinese goods, have intensified,” VOA noted.
Chinese Investors had expected a major stimulus package from the government this week, but were disappointed with the relatively small $1.4 trillion package Beijing produced, with a focus on reducing the debt burden of local government. […]
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