A different scenario for the World Trade Partners
The world trade partners for U.S. and China highly changed during the last decades. The precedent American hegemony, has left strong asset to competitor.
As we can see in the chart below, for few decades US has built trade relations with an expansionistic politic.
Several Countries such as from America Latina have constituted important assets for US but they moved to China and it is not an isolated case.
African countries changed their vision, due to the fact that China was able to build not only good relationship with governments but also because it was able to lead strong amount of investment needed by African countries (Belt Road Initiative). Nowadays, China is working with a strong centralized vision, following growth, prosperity and wealth in several part of the world. The Chinese vision lead them to establish a series of programs that we could call “African Recovery Program” in which China was able also to increase the exportation of its core business and guarantee a growth in term of services offered.
The Chinese’s admission in the World Trade Organization (WTO), in December 2001, contribute considerably to give a strong growth to Chinese economy, leading them to be the 2nd largest economy in GDP terms, the 1st largest merchandise exporter and to became the 1st investor for outward FDI among developing countries.
Overall European countries have decreased the dependency from U.S., falling the percentage of importations. Strong partners from U.S. remain the boundaries’ countries but the strong Chinese vision could lead China to penetrate also these markets. We highlight that some emerging countries and frontier countries have establish relationship with China such as in the case of AFDTA with a special regulation.