"China is now exporting more to the Global South, including BRICS (essentially non-NATO countries), compared to the US, EU, and Japan"
This is the most importance sentence. China's economic recovery depends on exporting more to the rest of the world. It's generally built strong relationships and goodwill with the Global South (Russia, Central Asia, Africa, ASEAN). China is mending fences with India to avoid the tumult of the past few years.
Unlike the West, Global South governments don't have as strong an incentive or the economic wherewithal to keep out high quality, affordable Chinese goods. Russia and Iran can't even trade with the West, so their only option is China.
Great article, very bullish on China.
Thank you!
"China is now exporting more to the Global South, including BRICS (essentially non-NATO countries), compared to the US, EU, and Japan"
This is the most importance sentence. China's economic recovery depends on exporting more to the rest of the world. It's generally built strong relationships and goodwill with the Global South (Russia, Central Asia, Africa, ASEAN). China is mending fences with India to avoid the tumult of the past few years.
Unlike the West, Global South governments don't have as strong an incentive or the economic wherewithal to keep out high quality, affordable Chinese goods. Russia and Iran can't even trade with the West, so their only option is China.