Daily Management Review

China to become the world’s largest importer


12/05/2017


China, which is the world's largest exporter, may become the world's largest importer in the next few years, Bloomberg reports.



Fuzzy Gerdes via flickr
Fuzzy Gerdes via flickr
China is already importing more than the US from Asia, Africa, Oceania, South America and Eastern Europe, and it is likely to outpace the United States in the next five years, becoming the world's largest importer if the growth seen in 2017 continues , wrote CICC economists in a research note.

China will begin to import more consumer goods than industrial materials, as the country in turning into the world's largest consumer market, economists of one of the country's largest investment banks noted.

As the largest producer, China for many years has been ranking first in terms of imports of raw materials, spare parts and accessories. But from the point of view of consumer goods, it still lags far behind the United States.

As Chinese consumers become better off, they demonstrate a growing appetite for exotic products, and the growth in imports will be increasingly associated with consumers, says the CICC.

"This is certainly good news for the global economy, as it has been inadequate since the global financial crisis," they wrote. "We believe that the growth in [demand] of Chinese consumers with its significant positive effect for the whole the rest of the world will be the most important and exciting story in the coming years."

Earlier, the International Monetary Fund predicts that the volume of world trade in goods and services will increase by 4.2% by the end of the year after growing by 2.4% in 2016. Most of this is won by large producers such as Germany and China, as well as electronics manufacturers, particularly South Korea.

Indicators of production activity indicate that the recovery should continue in 2018. According to Bloomberg Economics, the weighted-average value of business activity indices (PMI) of China's main trading partners in November was 56.3 points - the highest since February 2011. Official production PMI in China unexpectedly rose to 51.8 points in November.

source: bloomberg.com






Science & Technology

What trends will be affecting the health sector in the coming years?

Deloitte identifies main cyber threats for power industry

Zenuity To Take Self Driving Car Road Test In Sweden With Permission

Researchers: Half of Facebook users is fake

Amazon’s Ring gets in a privacy scandal

Facebook Is Creating A Stablecoin For Its WhatsApp Users

IBM offers to use the first quantum computer

Passport Numbers Of 5 Million Customers Hacked: Concedes Marriott

China Lifts Approval Freeze On New Video Games Launch

Concentrated Solar Plant System To Dispatch Electricity To The Grid On Demand

World Politics

World & Politics

AirHelp expects up to 33 th of cancellations and flight delays per day all over the world in 2019

Far-right and Catalonia: New elections in Spain

Trump is losing rating because of shutdown

Hanoi, Vietnam Chosen As Place For 2nd Summit Between Trump And Kim Jong-Un

US, China to hold new negotiations in Beijing

Human Rights Not To Be Dissociated From Stability, Macron Tells Sisi

Brexit Hijack Is Not The Parliament’s Right

Macedonia ignites political crisis in Greece