China says it has become the world’s leading car exporter after overtaking Japan in the first quarter of this year.
Why is this important?The fact that China is now the world’s largest exporter of automobiles has broad economic, technological, diplomatic and environmental implications. It strengthens China’s position as a global economic powerhouse and has the potential to disrupt the dynamics of the international auto sector.
In the news. China exported no less than 1.07 million vehicles between the beginning of January and the end of March. That is an increase of 58 percent compared to the first quarter of 2022.
- Japan exported 954,185 vehicles during the same period, a modest growth of 6 percent over the previous year.
- China is benefiting from the increasing demand for electric cars and sales to Russia.
- The country already overtook Germany last year and is now world wide
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