In the first quarter of 2024, China reported a 1.5% increase in exports compared to the previous year, signaling success in Beijing's strategy to enhance economic growth through bolstered manufacturing efforts. This rise comes amidst growing global trade tensions, according to the General Administration of Customs.
Boosted by a 4.4% growth in export volumes, China is navigating an economic slowdown by shifting focus to manufacturing. This approach aims to counterbalance impacts from a persistent real estate slump and sluggish consumer spending. However, this strategy has sparked international debate over market fairness, with U.S. Treasury Secretary Janet Yellen urging China to stimulate domestic rather than foreign demand to achieve sustainable growth.
