Shifts in imports into China can increase or decrease other countries’ economies.
Explanation:
China is the largest export economy in the world. In the year 2017 alone, China's export resulted in US $ 2.41 trillion, making the country the largest exporter in the world.
When we talk about numbers, in 2007 China had already surpassed Germany in the list of the largest economies in the world, second only to the United States in terms of GDP. However, exports from China, influenced Beijing, the Capital of the People's Republic of China, to accumulate the largest foreign currency reserve in the world, which amount to more than $ 2 trillion.
While the highest growth rates in the Chinese economy were recorded, high domestic demand for commodities was recorded; to meet this need, imports from partner countries have increased. Some countries were the biggest beneficiaries of this boom, consequently managing to leverage its growth. It can be said that the growth of many countries depends very much on the Chinese appetite; therefore, the slowdown in the Chinese economy has a direct impact on the slowdown of these economies. Although we have other partner countries that are emerging from the crisis and increasing their imports again, no trade partnership is so big as to supply the fall in imports from the Chinese market.
