Latest reports confirmed that China has been soaring high when it comes to its exports and imports even if there is an impending trade war with the United States of America. This is really good news most after the economic struggles which the country underwent for the past years.
It was reported that China just increased in its shipments to other countries even if the other nations are still struggling and recovering for a global demand. With this, data were shown that the country's imports rose to 11.0 percent compared last year while its exports increased to 8 percent again higher than last year.
Aside from China's exports and imports, its trade surplus also widens to $38.05 billion which also signifies that the country is already past the recovery stage. According to Bloomberg, even if the external demand is struggling, China is showing signs that it can withstand the global challenges.
Because of this great news for China's economy, some experts believed that its trade war with the most powerful country in the world will soon reach its end. Due to these results and latest information, there is also a possibility that the perspectives for external demand will improve in the future.
Despite this improvements, some economists were telling that China's pace of progress will be limited if the peak for this 2017 growth is already in the past. With this, China needs to consider employing higher interest rates but this will risk other factors of the country's economy.
With regards to the growth in exports, it only shows that there is a high demand overseas. According to The Australian Business Review, if this continues, China will not be the only one which will take advantage of this but the partner nation in the trade as well. But China needs to focus too on its imports since this is the one which will be reflected first which will later contribute to its domestic economy.
Since reports escalated that China is already doing good in its exports and imports, this means that the global economy is recovering. With a threat of trade war with the U.S., China wastes no time improve in their pace of progress.