Southeast Asia has replaced the United States and the European Union, becoming China's largest export market.
Bloomberg reported that according to HSBC's 12 -month mobile average indicators, China ’s monthly export amount to the Asianan country has soared to nearly 600 billion US dollars (about S $ 815.9 billion), surpassing the United States and the European Union.Since this year, the imports of Europe and the United States have dropped sharply from China.
Frederic Neumann, the chief Asian economist in HSBC, analyzed that this change is due to Beijing -led regional comprehensive economic partnership Agreement (RCEP).The largest free trade zone.
Noonman further said that this has also witnessed the reorganization of the global supply chain: parts from China are increasingly transferred to Southeast Asia for final assembly, and then exported to other parts of the world.
Reported that when the demand for developed markets is declining, a closer connection between Southeast Asia and China may help stabilize global trade, and the largest export market in Asia is also China.
Neuman said: "In short, one of the main trading corridors in Asia and the world is now a trading corridor between Asiansan and mainland China."
