Chinese exporters have expanded their global market share from approximately 11.7% of total goods exports to 11.9%, despite the 18-month US-China trade war, according to The Economist.
While exports to the US are down 15% so far this year, the outbound shipments to South-East Asian countries like Vietnam and Malaysia have boomed. Further, exports to Europe are on track to surpass exports to America this year.
Going by the data, it appears China is winning the trade war.
US Trade Representative Robert Lighthizer said on Sunday that the phase one trade deal reached on Friday is “totally done,” and will nearly double US exports to China over the next two years.
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