While China’s trade data this month was largely gloomy, it also reflected interesting shifts. A breakdown of the data published by the Chinese publication Guancha showed that trade with key parts of the Global South is trending upwards. For example, the Association of Southeast Asian Nations is currently China’s largest trade partner, with exports increasing by 12.7% and imports by 3%.
This gap between exports and imports doesn’t necessarily make for happy neighbors and some Southeast Asian countries have been narrowing the path for cheap Chinese imports, partly through putting pressure on e-commerce platforms like Temu and Shein. For example, Thailand reported a 20% drop in “low-quality” imports from China after tightening regulations earlier this year to protect domestic manufacturers.
