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China’s growth pivot shifts from goods exports to exporting factories
The shift is framed as a response to limits in the old export-led model, with domestic demand pressured by weak consumer confidence and a prolonged property slump.
China is facing limits in its export-led boom, and the next phase of growth is expected to come less from shipping more goods abroad and more from exporting its factories, technologies, and brands, according to commentary from SCMP Economy.
The outlet describes this as a move away from the country’s older growth model, as weak consumer confidence and a prolonged property slump continue to weigh on domestic demand.
SCMP Economy characterizes the broader economy as increasingly K-shaped, implying that weaker parts of the economy are dragging overall momentum while stronger areas do not offset the slowdown.