CNBC TV channel, relying on the speeches of Chinese officials and words of analysts, predicted the country’s economy complex times, partly related to last year’s high performance.
According to the official representative of the Chinese Customs Department Lee Kuivan, one of the main reasons for problems in the near future will be the effect of a high base regarding, in particular, last year’s exports.
In 2020, China before the rest of the countries began to restore the effects of the coronavirus pandemic and remove restrictions for the economy. This turned into an increase in exports, which amounted to 3.6 percent against 2.3 percent GDP growth.
However, in 2021, Chinese exporters still face problems, one of which is a long blocking of the Suez channel by Ever Given container carrier. In addition, this year does not observe as high demand for protective masks and other disinfection agents, which in the 2020-m accounted for a significant share of exports.
Future difficulties are associated with the speedy discovery of the economies of many countries, which will lead to the reorientation of local demand from Chinese suppliers on local, note the analysts respondents. They expect exports from China on April 10-15 percent per year by year.
In the current situation, specialists see the chance to reorient the national economy to the domestic market, which is long aspiring official Beijing.