China and the Global South: Redefining the Future of Trade

CGTN Europe

The global economic balance is shifting. 🌏 China’s trade with the Global South is outpacing its ties with the West, reshaping global trade patterns. What’s fueling this transformation? Watch to find out.  #China #GlobalSouth #BRICS #Trade #Economy

Transcript

00:00China is expanding its global trade footprint across the global south, according to CGTN

00:06Europe analysis of official statistics. Countries in Africa, Asia and Latin America have deepened

00:12their trade ties with China at a faster rate than with Europe and the US. China does more

00:18external trade than any other country, accounting for more than 14% of the global total. Fifty

00:24years ago, it was less than 1%. Most of that business has been with the biggest, most mature

00:30Western economies, and that's still growing. But exports from China to the global south

00:36have surged, growing more than 111% in the past decade. Meanwhile, exports to the most

00:42developed countries are up 62%. So developing nations are buying more Chinese goods, but

00:49more is coming into China from the global south. Those imports are up 47% since 2014.

00:57Spurred by China's big infrastructure investment scheme, the Belt and Road Initiative, China's

01:02investment in the global south is growing too. Three quarters of China's overseas investment

01:08is in places with Belt and Road projects. So as Donald Trump talks about protecting

01:13home markets, stoking fears of trade wars with new, steep tariffs, China has been steadily

01:19bolstering itself against economic shocks by diversifying its imports and securing new markets.

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