Financial Center / Reported by Shi Yuyun
▲ Xie Jinhe, chairman of Caixin Media, pointed out that the US$ 124.7 billion in trade surplus that China lost all flowed to two countries. (Photo/reproduced from Pixabay)
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China’s State Administration of Foreign Exchange announced in February this year that direct investment obligations in the 2023 balance of payments increased by US$33 billion, a drop of 82% from US$183.33 billion the previous year, and even compared to the peak of US $344. billion in 2021. The share was less than 10%, a new low since 1993, and China’s trade surplus with the United States fell sharply from US$124.7 billion. In this regard, Xie Jinhe, chairman of Caixin Media, pointed out that the lost trade surplus of US$124.7 billion flowed to two countries.
Xie Jinhe pointed out that the US-China rivalry has become the core focus of geopolitics since 2017. The world has focused on physical wars, from Russia’s attack on Ukraine to the conflict between Israel and Hamas, as well with the recent tensions in the Taiwan Strait and the South China Sea. The trade war that started with Trump has had a growing effect on China, but most people have not felt it In addition to the increase in the chip bill, the effectiveness of the silent supply chain management carried out by the United States is gradually coming. This reflects China’s influence on the US on the trade surplus.
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Xie Jinhe analyzed that since China became the world’s factory in 1990, the United States has called on the world to invest in China The amount of foreign direct investment (FDI) has reached US$2.7 trillion. Last year, China’s FDI plunged by 85%. markets have increased, while the Chinese and Hong Kong stock markets have been declining.
China’s stock market capitalization accounted for 20% of the world’s market capitalization in 2015, and now only 10% remains in the US alone which accounts for almost half of the world’s stock market Indian stock markets and Japan has been hitting a record high impact is the change in trade volume caused by the movement of China’s supply chains last year The exports were US $ 3.38 trillion, the imports were US $ 2.5568 trillion, and the total world trade volume -wide was US $ 23.88 trillion China accounted for 14.2% and the United States 8.51% China is the world’s largest exporter. However, the United States imported US$3.1725 trillion last year, well ahead of China’s US$2.5568 trillion. trade.
Xie Jinhe pointed out that the reason why China has become the world’s factory is because of its economic development. But this pattern has undergone major changes in 2022 and 2023. China has been the largest importer of the United States since 2009. Last year, it was replaced by Mexico Canada also surpasses China, and China’s trade surplus with the United States United States also increased from 404.138 billion in 22 The US dollar fell to 279.4 billion US dollars, and China’s trade surplus with the United States decreased sharply by 124.7 billion US dollars this year.
Xie Jinhe explained, where is the US trade deficit going? Last year, Mexico’s surplus was US$152 billion and Vietnam’s surplus was US$105 billion, two or three times more than 2017. And with China’s decrease of US$124.7 billion, how many manufacturing industries in China are likely to draw back from the market? “Recently, Wang Yi stood up and started scolding, saying that the United States gets nervous when it hears about China. Where is the confidence of a great country? Xi Jinping also called representatives of American business leaders in Beijing, but it seems that it is not easy to reverse this trend! This is another aspect of an invisible war.”
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