RASPP commented on the “new wave of cheap Chinese goods” in Russia
The “new wave of cheap Chinese goods” is also relevant for Russia, but the real effect of it will be ambiguous, says the material of the Russian-Asian Union of Industrialists and Entrepreneurs ( RASP).
Earlier, the Wall Street Journal wrote in its article that the world market could be covered by a new wave of cheap Chinese goods. The WSJ recalls that in the late 1990s and early 2000s, the United States and the world economy experienced the “China shock” — a boom in imports of cheap Chinese-made goods. It is noted that the United States, Europe and Japan do not want this story to repeat itself — simply because, due to the influx of inexpensive Chinese products, domestic manufacturers found it difficult to compete (and some did not).
As writes RASPP, the world economy has recently experienced many unpleasant events, and it is not a fact that there will not be new shocks in the near future.
“What does all this mean for Russia? On the one hand, after the curtailment of cooperation with the West, China has become an important alternative. On the other hand, our priority is to develop our own production, which is unlikely to be ready to compete with Chinese competitors, especially if it is at an early stage. And at the same time, the introduction of protective duties somehow does not correspond to the dynamics of the development of Russian-Chinese relations. In short, the situation is ambiguous,” the article says.