Recently, the European Parliament passed a resolution calling for the EU to revoke its special tariff treatment for Hong Kong. This means that the $500 billion worth of goods exported from Hong Kong to the EU each year will lose their ultra-low tariff benefits. Among them, goods from Guangdong Province transshipped through Hong Kong are valued at up to 1 trillion yuan each year, which is a heavy blow to China's foreign trade.
At the same time, while the U.S. is pressuring Mexico, local authorities have intensified their crackdown on Chinese goods. Mexican authorities raided the capital’s "Yiwu City" and promised to strictly address counterfeit products, cutting off the channels for Chinese goods to be transshipped through Mexico to the U.S. Furthermore, U.S. lawmakers have proposed to revoke the most-favored-nation status granted to China since 1978, further restricting Chinese exports.
In Southeast Asia, Vietnam has taken the opportunity to demand that Chinese companies transfer shares at low prices, or it will restrict their transshipment trade rights. Meanwhile, in the area of international economic and trade organizations, the CPTPP (Comprehensive and Progressive Agreement for Trans-Pacific Partnership) led by Japan and Australia has rejected China's membership application for the fourth time, citing a lack of trust in China's fulfillment of commitments.
To alleviate international pressure, China has recently taken a series of compromise measures, including visa exemptions for Japan, lifting the ban on Japanese seafood, removing buoys in the Diaoyu Islands, and eliminating tariffs on Australian goods. As a crucial engine supporting the economy, China's foreign trade is facing multiple setbacks and may encounter even greater challenges in 2024. With investment and consumption sluggish, the downward pressure on the economy is increasing, and the outlook is not optimistic.
At the same time, I recently plan to lay low and invest in a potential coin that has the opportunity to surge, and doubling is quite simple, with an expected upside of 10 times or more.
Those who want to follow along, please like and comment.
#puppies #DOGE狂潮 #新任SEC主席 #美国合规概念币走扬 #下一个换谁涨? $BTC $ETH $XRP