I posted my latest episode with Han Feizi on China's economy and a whole bunch of issues.
The chart in the post (copied below) really debunks the myth that Chinese industrial production is export oriented/dependent. As I previously
pointed out, China is in fact far less export oriented/dependent than the other major manufacturing powers.
The chart above would just show how much of China’s production for each industries is actually dependent on US export. You can see that Consumer Electronics is basically the only major one. Of course, a large part of that is just Apple exporting products made in China to America and then making a huge profit on top.
Can't find it now, but I remember seeing a list of companies that were the largest exporters of goods from China to the US, where #1 was Apple, #2 was HP, #3 was Dell, and mostly American and other foreign (non-Chinese) companies filling out the rest of the list. While exports by companies like Apple, HP, and Dell generate high gross export revenue, relatively little of the value added comes from China, with most of the value added coming from components imported from Taiwan, South Korea, etc. So it's no surprise that while Chinese trade surplus with the US dropped dramatically due to the trade war, China's overall trade surplus as well as US's overall trade deficit are both looking to set new record highs this year.
