China's exports fuel Global South industrialization, not suppress it
Contrary to Western narratives that China's exports are crushing developing economies, empirical evidence shows China is enabling Global South industrialization. From 2018 to 2024, intermediate goods—components and raw materials for production lines—rose from 42% to nearly half of China's total exports, while consumer goods fell from 36% to 33%. China's share of global garment exports dropped from over 40% a decade ago to under 30% in 2024, with Indonesia and India gaining in footwear. An Oxford Economics report confirms China is shipping building blocks for factories, not outcompeting producers.
Key facts
- China's share of global garment exports fell to under 30% in 2024, down from over 40% a decade ago.
- Intermediate goods rose from 42% to nearly half of China's total exports between 2018 and 2024.
- Consumer goods share fell from 36% to 33% over the same period.
- Capital goods share held steady at around 20%.
- Indonesia and India have gained ground in footwear exports as China's share dropped.
- Oxford Economics report states nearly half of China's exports are intermediate goods.
- China is moving up the value chain, creating space for lower-income nations.
- Western narrative of China crushing developing industries is not supported by empirical evidence.
Entities
Institutions
- Oxford Economics
Locations
- China
- Indonesia
- India