The Chinese government is quoting a strong outlook for exports, mainly because of the strong recent export and export order data for the Chinese mainland, Taiwan and the Republic of Korea. There is also an upward revision of the forecast for the United States’ economic growth following increased likelihood of substantial financial stimulus in the USA.
China’s export-oriented manufacturing sector’s performance since the onset of the COVID-19 pandemic has been stronger than expected. The global market share of China has risen significantly since the coronavirus outbreak, instead of coming down as expected.