New Delhi
China, the largest global exporter, is facing challenges as countries aim to reduce their reliance on Chinese goods. A report has highlighted that China’s rapid manufacturing growth has led to protectionist measures worldwide, including higher tariffs and trade barriers on Chinese products.
For nearly 30 years, China has developed a vast manufacturing sector, producing a wide range of goods, including appliances, solar panels, and vehicles. As Chinese products dominate global markets, several countries, including the US, the EU, and Canada, have responded by imposing tariffs on items like steel, aluminum, and low-cost goods from China. Other nations such as Brazil, India, Mexico, and Turkey are also implementing trade restrictions or investigating Chinese exports.
This response reflects concerns about China’s manufacturing dominance. The scale of China’s production has made it difficult for other countries to compete. As global economies move towards increasing domestic production, both developed and developing nations struggle to match China’s capabilities.
With more trade restrictions, China is facing fewer international markets for its exports. In response, China is focusing on boosting its domestic economy by encouraging local consumption. Despite this shift, China is expected to remain a significant player in global trade due to its extensive manufacturing capabilities. However, rising protectionism may push China to prioritize its internal market.
