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China Remains Pivotal Trading Partner Globally Despite Speculations of Decoupling, According to Asian Development Bank

Beijing, February 27, 2024, The Europe Today: In a recent report by CNBC on Monday, the Asian Development Bank (ADB) has underscored that China remains an indispensable trading partner for the majority of countries across the globe, challenging the narrative of a widespread decoupling from China.

Albert Park, Chief Economist at the ADB, emphasized that, “China’s still probably the number one trading partner for the majority of countries in the world.” Contrary to some perceptions that certain nations may be actively seeking to reduce trade ties with China, Park argued that, on a broader global scale, the notion of complete delinking is far less evident.

“The story of China being delinked from the global economy, I think those are probably generally very overdone or very partial,” stated Park. While acknowledging that there may be specific instances or particular goods where countries are reevaluating their trade relationships with China, the overall trend on the international stage tells a different story.

The ADB’s assessment challenges the prevailing discourse of decoupling from China and underscores the continued significance of China as a key player in the global trade landscape. As nations navigate the complexities of the international economic environment, the report suggests that the interdependence with China persists, reaffirming its status as a crucial trading partner for many countries.