Analysts are tentatively calling it “peak China”. The country’s position as the leading global exporter for the past two decades has been dealt a blow after it lost ground to the US in the first six months of this year.
America became the bigger supplier out of the two superpowers to eight countries over the first half, including France, Austria, Zimbabwe and Lebanon. China added just three entries to the list of countries where its exports eclipse the US: Bhutan, Luxembourg and Venezuela.
The shift has raised the prospect that China has reached the limits of its global trade domination, allowing others, including the US and India, to increase their shares.
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