China: Moving Up the Value Chain Through Export Diversification and Lessons for Bangladesh

China: Moving Up the Value Chain Through Export Diversification and Lessons for Bangladesh

China’s economy has continued to grow even after the U.S. imposed massive tariffs, mainly because Beijing and Chinese firms adjusted structurally instead of relying on the old export model. First, China diversified its export markets. While exports to the U.S. fell by about 28–29%, exports to other regions increased, with shipments to ASEAN countries rising by around 8% and to the EU by about 14–15%. This shift in market composition helped offse…