Almost everyone in the world hates China right now because of the Covid-19 Pandemic but they do you realize that almost 70% of the things you see around you is either supplied by China or the raw materials to make that product is exported from China. The Chinese economy thrives as a manufacturing powerhouse and the nation’s products seem to be everywhere. The majority of tags, labels, and stickers on a variety of goods proclaim they are “Made in China.” China is also known as “The World’s Factory.” We can indirectly say that China is mainly the reason we are living in our comfort zone. You don’t believe me? Alright let me break it down for you with the help of stats.
The latest available country-specific data shows that 60.2% of products exported from China were brought by importers in:
The United States of America(16.8% of the global total), Hong Kong (11.2%), Japan(5.7%), South Korea(4.4%), Vietnam(3.9%), Germany (3.2%), India(3.6%), Netherlands(3%), United Kingdom(2.5%), Taiwan(2.2%), Singapore(also 2.2%), Malaysia(2.1%).
You must be astonished by seeing the United States of America on top of the list aren’t you? Cause it surprised me too. One of the most developed country in the world and most powerful country imports 16.8% of China’s products. It shows how important of a role China plays for every country when it comes to the manufacturing industry. From the mobile phones in your pocket which helps you to stay connected to the whole world to the air conditioners in your house which helps you to cool down and even the mosquito bats which helps you to kill the mosquitoes which is patented by China. You might find it funny but that’s the truth. Let me show you the stats. The following export product groups categorize the highest dollar value in Chinese global shipments:
- Electrical machinery, equipment: US $671 billion (26.9% of total exports.).
- Machinery including computers: $417 billion (16.7%).
- Furniture, bedding, lighting, signs, prefabricated buildings: $99.5 billion (4%).
- Plastics, plastic articles: $84.4 billion (3.4%).
- Vehicles: $74.4 billion (3%).
- Optical, technical, medical apparatus: $73 billion (2.9%).
- Knit or crochet clothing, accessories: $71.4 billion (2.9%).
- Articles or iron or steel: $69.6 billion (2.8%).
- Clothing, accessories (not be nit or crochet): $66.8 billion (2.7%).
- Toys, games: $62.8 billion (2.5%).
Surprised us again!!!
Everyone might be guessing that due to the Covid-19 Pandemic all the countries should have already boycotted Chinese products by now leading to the downfall of the amounts of exports from China but as the China is known for surprising us, they did it again and this time they surprised the Reuters too. According to CNBC, in the month of April, exports percentage of China rose by 3.5% crushing expectations for a decline of 15.7%. Reuters had expected that 15.7% of exports would fall but the exports rose by 3.5% in April. Reuters had predicted China’s trade surplus to be $6.35 billion but to an utter surprise it was $45.34 billion. Exports of medical supplies surged in April. China’s dollar – denominated exports unexpectedly rose in April, but imports fell the same month as movement restrictions to contain the corona virus outbreak eased.
China’s medical exports likely rose in April as it shipped health- care goods to the rest of the world.
So this clears that how vital a role China plays in our day to day lives. And I know that most of the countries are thinking of boycotting Chinese products and partly it seems like a good idea but it is not. Just imagine how most of the products that we are using is either made by China or the processing is from China. So boycotting “Made in China” products can be a loss for us too. Just think about it until then China still remains “The Jack Of All Trades”.