Posted on 07/29/2022 4:09:48 AM PDT by FarCenter
NEW YORK – China’s exports to the largest economies of the Global South have nearly doubled from pre-Covid levels to a seasonally-adjusted US$70 billion in June 2022 from $38 billion in June 2019.
Several factors have impelled the surge in Chinese exports, but the most important impulse comes from China’s strategic investment in digital and physical infrastructure, ranging from broadband networks in Indonesia and Brazil to power plants in Turkey and railways in Southeast Asia.
As Western nations question the benefits of globalization, China has become the world’s leading globalizer.
What I called “China’s plan to Sino-form the world” in a 2020 book has advanced so far that it is beyond the capacity of the United States and its allies to impede. Half a billion people in neighboring countries now depend on Chinese technology for communications, data processing and logistics, providing China with a nearly limitless source of young workers for its industries and an ever-expanding export market.
For China, economic outreach to the Global South is key to breaking through American efforts to contain China’s drive for economic predominance. China, wrote the influential “Observer” columnist Chen Feng on July 28, “has to solve the problem of generating its own independent growth momentum, after breaking through the critical point of the ‘Matthew Effect,’” the economic maxim that rich countries get richer and poor countries get poorer.
“America’s comprehensive and unlimited anti-China campaign can slow down China’s development, at the cost of a greater deceleration of the United States. But China is not only putting in place a dual cycle,” that is, promoting domestic consumption as well as exports,” Chen added. “China also divides the external [export] cycle into two sub-cycles: Europe and the United States on one hand, and the Belt and Road/Asia, Africa and Latin America on the other.”
(Excerpt) Read more at asiatimes.com ...
Asia Times is a sometimes accurate source, most times (like this one) it is pure propaganda.
China is a snake to deal with. Right now the leadership in DC is owned by them.
Every country they “help develop” wind up being used or crippled.
The ChiComs are not allies, they are treacherous and scheming. They have sold our technology for 40 or more years and are worse than the Russians how they use it.
They exist on slave labor. And now the WEF and World Bank want to make the rest of the world in their model.
This is a pact with the devil. Literally.
What a ridiculous statement. The US has run a $300 billion plus trade deficit with China for years and tolerated almost unlimited industrial espionage, copyright and patent violations, and every form of technology theft the Chinese can imagine.
The basic premise of the article is probably true, but to suggest that the US has launched some "comprehensive and unlimited anti-China campaign" is pure fantasy. President Trump was beginning to turn around our years of ridiculous polices concerning China, but that disappeared faster than gas prices rose beginning January of 2021.
Since China imports many resources from the Global South, it makes sense for China to export more manufactured goods to the Global South and reduce exports to the US. It would be better to balance China’s trade with the Global South, rather than running a deficit that needs to be made up with a surplus from the US.
China builds power plants and cell phone and internet systems.
The US sends cash and food and gives villagers wells and solar-powered LED desk lamps.
China builds power plants and cell phone and internet systems.
The US sends cash and food and gives villagers wells and solar-powered LED desk lamps.
and there it is...
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