A global value chain realignment away from China has yet to occur as the nation’s export machine keeps humming and its purchases from upstream countries including Japan and South Korea remain largely stable, Chinese customs data showed on Monday.
The United States was the biggest buyer of Chinese exports for the fifth consecutive month in August, despite talks of decoupling between the world’s two largest economies.
August shipments to the US jumped 20 per cent from a year earlier to US$44.8 billion, according to South China Morning Post calculations, although China’s total trade with the US fell behind the European Union and Asean nations in the first eight months of the year. Read More