Demand shift? China's exports to the US may fall to a 10-year low

Foreign media reported that the amount of goods imported by the United States from China is declining. It is expected that in the near future, the amount of Chinese products imported by the United States will fall below half of the total amount of "cheap" Asian products it imports. This is the first time in nearly 10 years.

A report by consulting firm Kearney shows that the current US government is trying every means to reduce its dependence on Chinese products. In addition, current US consumers prefer cheaper goods, resulting in some import demand flowing from China to other countries.

Currently, China and the United States are each other's largest trading partners. Last year, 50.7% of the products imported by the United States from Asian countries came from China, while in 2013 the figure was nearly 70%.

According to data released by Kearney, the US import focus seems to be shifting to other Asian countries. In the past five years, US imports from Vietnam have doubled.

In February this year, data showed that the United States imported more than 1.35 million vacuum cleaners from Vietnam, a year-on-year increase of 54.1%. In addition, the number of products imported by the United States from Asian countries such as India and Malaysia has also increased.

In comparison, during the same period, China exported 1.29 million vacuum cleaners to the United States, a year-on-year decrease of 51.7%. This is also the first time that Vietnam's exports of vacuum cleaners have exceeded China's.

It is not difficult to see from various phenomena that the United States is indeed constantly trying to reduce its dependence on Chinese products. However, it is still unclear whether this trend will continue. After all, there are many signs that China's strong supply chain system cannot be easily replaced by other countries.

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