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China Facts: China's focus is changing towards Asia

 

 

There is already evidence that China is making strides towards being the anchor economy for its region, and, at the same time, deepening economic links with emerging economies beyond Asia. As China's share of emerging economies' labor-intensive manufactured export has declined - by 3% between 2014 and 2016 - those of emerging economies have risen; Vietnam by 1.5%, India by 9.7% and Indonesia by 0.4%. China's trade with emerging economies around the world - China-South trade - rose 11-fold between 1996-2016. In comparison, North-North trade increased only twofold. *) 

 

*) McKinsey Global Institute December 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Hans Henrik Pontoppidan
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