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CSI: China’s export structures shift under pressure

CSI: China’s export structures shift under pressure (Feb. 9, 2024)

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How have markets been impacted? And can this practice continue through 2024?

China’s full year trade data confirmed the significant increase in net steel exports which has pressured markets in the rest of the world. The shifting trade balance is fundamentally the product of China’s weaker economy last year. Domestic demand and production determine net export volumes. However, exports have also been supported by the evasion of full VAT payments. This has resulted in an additional price impact on global markets.

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