Chinese Business News

Published on: 09 April 2021
By Marie

But no one could have imagined that the touchscreen slate would go out of stock this year, just as nobody could have anticipated the COVID-19 pandemic or that it would force billions of people to stay indoors for work, study and play. China’s stronger-than-expected 2020 growth again signals that the country is speeding up expansion and will continue to lead the world’s economic recovery from COVID-19. China and its neighbours must not only crack down on wildlife trade but also shut legal loopholes that allow disease-prone species to be farmed, experts said after an investigation team concluded that COVID-19 most likely originated in animals. A recovery in China’s services sector picked up speed in March as firms hired more workers and business optimism surged, although inflationary pressures remained, a private sector survey showed on Tuesday. Prices of some Chinese limited edition sneakers soared among collectors and speculators following calls for local consumers to boycott global brands that have said they don’t source products or yarn from China’s western Xinjiang region.

The country’s importance to international commerce has fueled its internal prosperity and contributed to increases in consumer and industrial demand for its products throughout the world. China is leveraging its domestic capacity to achieve economic growth and economies of scale that are deemed prerequisites for modernization and improved standards of living for its citizenry. Track the global market performance of the luxury sector in China.

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But in many political circles, leaders and politicians are voicing concerns about China’s trade practices and policies and the impact on free and fair trade between nations. The response from world leaders to China’s growing dominance will profoundly depend upon whether tensions are inflamed by rhetoric or if differences can be resolved through compromise and conciliation. Today, China is a major contributor to global trade and commerce, and regularly partners with Japan, Hong Kong, and the United States in many bi-lateral and multi-lateral import and export trading arrangements. The adoption of such trade agreements demonstrates that China will remain a dynamic leader in the future development of worldwide commerce and policies.

In fact, during the first three decades of the twentieth century, the Chinese people were ruled by the communist party. In global diplomatic circles, China was known as the People’s Republic of China. During the 1950s and 1960s, foreign trading amounted to only 2% of the country’s GNP .

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  • The Wilson Center and the US-China Business Council have jointly created the Compendium of Policy Recommendations for the Biden Administration on China to renew the national debate and help the incoming administration navigate the policy options at its disposal.
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Chengdu Business Daily

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