Chinese traders in world’s largest wholesale market adjust to fewer US buyers

Chinese traders in world’s largest wholesale market adjust to fewer US buyers

A growing global base of customers is helping vendors in Yiwu city mitigate the fallout from a tariff war with the United States as uncertainties take toll.

Prior to the COVID-19 pandemic, the Chinese economy showed strong growth, but maintaining a downward trend since 2010; this reflects a structural transition in its economy. Punctually, GDP rose from a rate of 12.2% per year in 1Q-10, to 5.9% in 4Q-19, showing less dynamism in investment and exports, as well as growing trade tensions with the US. Likewise, the pandemic generated severe disruptions in the Asian economy, with sharp declines in indu…

Some Chinese exporters hasten US dollar conversion amid trade war

The yuan remains the third worst performing currency in Asia this year behind the Indonesia’s rupiah and the Hong Kong dollar. Read more at straitstimes.com.

The tariff war between China and the United States is creating great uncertainty on the world's cargo ships.