Trade outlook: China keen on pivoting exports to local market
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As U.S. tariffs disrupt world trade, leading Chinese e-commerce platforms are launching multibillion-dollar initiatives to help traditional exporters shift to domestic sales. JD.com has pledged to buy at least $27 billion worth of goods from the country’s exporters over the next year to help them sell products to local consumers. Alibaba’s supermarket chain Freshippo – popularly known as Hema – said it has created special “green channels” for export suppliers to sell their products on its shelves. Pinduoduo plans to invest $13.7 billion to help its sellers “pivot and upgrade.” How could these strategies help exporters cope with rising trade barriers and tap into the domestic market’s potential?
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