Firstly, China's participation in the Regional Comprehensive Economic Partnership (RCEP) has deepened trade ties with countries in the Asia-Pacific region. In 2023, trade between China and the 14 other RCEP member countries reached $1.77 trillion, a 5.3% increase compared to the period before the agreement took effect in 2021. Furthermore, China's focus on Free Trade Agreements (FTAs) with countries aligned with its Belt and Road Initiative (BRI) has expanded its trade network to include 154 countries, predominantly in Asia, Africa, and Latin America. This network covered almost 40% of China’s exports, amounting to approximately $1.3 trillion in trade.
03 July 2024
CHINA Stop Export to US and EU: What next?
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