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China’s factory exports are powering ahead faster than almost anyone expected, putting jobs around the world in jeopardy and setting off a backlash that is gaining momentum (lấy đà).

From steel and cars to consumer electronics and solar panels, Chinese factories are finding more overseas buyers for goods. The world’s appetite for its goods is welcomed by China, which is enduring a severe downturn (suy thoái nghiêm trọng) in what had been the economy’s biggest driver of growth: building and outfitting apartments. But other countries are increasingly concerned that China’s rise is coming partly at their expense, and are starting to take action.

The European Union announced last week that it was preparing to charge tariffs, which are import taxes, on all electric cars arriving from China. The European Union said that it had found “substantial evidence” that Chinese government agencies have been illegally subsidizing (trợ cấp bất hợp pháp) these exports, something China denies.

The European Union has also been mulling import restrictions on wind turbines and solar panels from China. India announced last September that it would impose broad tariffs on steel from China. Turkey has been complaining that China is lopsidedly sending it exports while buying little.

China’s surpluses in manufactured goods (hàng hóa sản xuất) are now roughly twice as big, relative to the global economy, as the biggest surpluses achieved by Japan during the 1980s or Germany right before the global financial crisis (khủng hoảng tài chính toàn cầu), according to calculations by Brad Setser and Michael Weilandt, economists at the Council on Foreign Relations in New York.

Deficits with Japan and Germany were long tolerated because they are American allies.

But China is an increasingly close ally of Russia, North Korea and Iran. The foreign minister, Wang Yi, mentioned all three warmly, particularly Russia, at a news conference (họp bảo) last week.

source: nytimes,

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