Chinese businesses are moving away from the U.S. despite trade truce

The intense commercial war with the US.

Based on a survey or 4,500 exhibitors in several important economies, the commercial insurer Allianz Trade found that 95% of the Chinese exhibitors surveyed are planning, if not, doubleing export to markets outside the United States for their goods.

The “decoupling” of the United States-China remains a probable medium-term scenario, according to the survey, since Chinese exporters seek to turn away from US and American companies accelerate efforts to move away China’s production.

A growing number of companies surveyed expect a dent in export billing this year due to two -digit rates in the United States, according to the report.

Even after the reduction of temporary rates follow the Beijing-Washington Agreement in Switzerland earlier this month, the rate weighted rate in the US

The rapid decallation of the rate is a splash has led to a large increase in shipments to the US.

Chinese exporters in the coastal city of NOBO are not affected by the truce and remain with their “globalized” plans, said Tiannchen Xu, a senior economist of Economist Intelligence Unit.

In a recent report on a field visit to the city, which houses the second largest port in China for a managed load after Shanghai, Xu said that Southeast Asia remained the best option among local businesses that rose to move production abroad.

For Southeast Asia, companies show growing interests in the creation of production in Indonesia, Xu said. On the other hand, the perception was mixed with Vietnam, with groups about the increase in costs that weighs an attractive force of the workforce.

Although the United States has achieved trade agreements with China and the United Kingdom, conversations with other long business partners seem to have stagnated.

Allianz’s trade indicates an sobering reality that global exports could see a loss of $ 305 billion this year thoroughly of generalized commercial conflicts.

In comparison, global trade reached a record of $ 33 billion last year, according to the trade and development of the United Nations.