Xinhua News Agency published an article, stating that some U.S. officials claim Chinese exports are “flooding” global markets and that China needs to “rebalance” its economy, but that the term “China’s economic rebalancing” is a misleading argument that ignores economic facts.
It argues that since 2010, China’s export-to-GDP ratio has declined, and is now significantly lower than that of economies like Vietnam, Germany, and South Korea. China’s trade dependence is lower than that of many developed countries. China’s growth is now driven more by domestic consumption and investment.
It claims that China’s manufacturing strength stems from market-driven advantages and global industrial integration. Chinese innovation, especially in sectors like electric vehicles, is helping upgrade global value chains. The “rebalancing” narrative reflects a zero-sum mindset and repackages outdated “China threat” rhetoric. In reality, China’s manufacturing benefits global consumers and companies alike, making this claim both baseless and unconvincing.
Source: Xinhua, July 25, 2025
http://www.xinhuanet.com/fortune/20250725/080961de980d46a685d0ed9b5d52f7d1/c.html