As China returns to work after it’s Autumn national holiday what changes can we see in trade between the UK and China in the run up to Christmas and into 2019?
What has now become a trade war between China and the US is set to escalate over the coming months as planned rises in import tariffs to the US come into effect. China is of course retaliating but neither side win and the result is a predicted slowing of trade between the two countries and many are predicting a slowdown in global trade.
This on the face of it is not good news for any major economy including the UK, but such adverse times can bring opportunities. China, fearful of a slow down has just announced a cut in the amount of cash banks must hold in reserve, a move predicted to inject 750bn RMB (£83bn) into the economy. https://www.bbc.co.uk/news/business-45780726 China will as a result be looking for new markets and opportunities for its products. The UK should seize this opportunity to negotiate better deals for UK businesses in China – a move we would strongly support. The UK cannot afford to ignore what is one of the worlds biggest economies. The UK is at the forefront of new technologies, which China desperately needs and wants. Companies looking to export to China should be planning their strategies now to take advantage of the favourable outlook.