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MOSCOW, March 3 The world will face an influx of Chinese goods for the second time, as China is actively increasing production to solve economic problems, writes the American newspaper The Wall Street Journal .
«In the late 1990s and early 2000s, the US and global economy experienced the 'China shock' — a boom in imports of cheap Chinese-made goods. <…> A repeat of this may be on the way as Beijing doubles exports to revive growth economy of the country,” the publication emphasized.
It is noted that last time a similar strategy helped China contain inflation and led to the ruin of factories in the West. Now Chinese companies produce more cars, appliances and consumer electronics than is necessary for the domestic market, the material says. Thus, Beijing is once again oversaturating foreign markets with goods that it could not sell domestically, the publication added.
This situation cannot but cause concern in Western countries, since this time China is competing in production of technological products, for example, computer chips, cars, as well as in complex mechanical engineering, the publication concluded.
In February, Russian President Vladimir Putin, during an interview with American journalist Tucker Carlson, said that the West fears a strong China more than a strong Russia , China has enormous potential; today it is the first economy in the world in terms of purchasing power parity, which has already overtaken America.