![]() This advertisement has not loaded yet, but your article continues below. Emerging markets might welcome lower prices for machinery, but also worry about Chinese competition undercutting their efforts to develop domestic industries, he added. In developed countries “cheap consumer goods from China aren’t looked on as favorably as before,” said Paul Cavey of consultancy East Asia Econ. The European Union’s trade chief this week vowed to press China to reduce its trade surplus with the bloc, earning a rebuke from Beijing, which said the EU’s export restrictions were at fault. That could ripple through to developed countries, where central banks like the Federal Reserve and Bank of England are still hiking interest rates to tame elevated inflation.ĭeflation in China “should help inflation in the US and Europe to moderate,” said Ding Shuang, chief economist for Greater China and North Asia at Standard Chartered Plc.īut with politics in many developed countries becoming more protectionist, not everyone will welcome cheaper Chinese goods into their markets. ![]() ![]() Slowing consumer demand in China combined with a property slump as well as rapidly falling exports are pushing manufacturers to cut prices to get rid of excess stock.
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