China reaps geopolitical dividend in Middle East exports

China’s exports in April surged towards the Global South while shrinking in developed markets, following a pattern of geographic divergence that began four years ago.

Overall, exports rose 1.5% in dollar terms and 5% in terms of RMB. But the salient fact about China’s trade performance during the first four months of 2024 is the jump in trade with developing countries.

North Africa and the Persian Gulf showed the strongest growth.