한은 '대중국 수출 3년만에 15%↓…"글로벌 가치사슬 약화"<br /><br /> The nation's outbound shipments to China has been nose diving in recent years. <br />Shrinking investment and consumption of manufactured goods in Beijing are seen as the main driving factors.<br />Koh Roon-hee provides an in-depth analysis of this unwelcome phenomenon. <br />In the 1990s and early 2000s, South Korea's exports to China saw relatively strong growth rates, with exports to China growing at a faster rate than South Korea's exports to the rest of the world.<br /><br /> However, exports in 2016 dropped sharply by 9-point-3 percent on year…and fell 14-point-7 percent compared to 2013....despite both economies experiencing solid GDP growth. <br /><br /> To explain this downward trend, an economist at the Bank of Korea released a report on Monday.<br />Choi Moon-jung attributed the fall to a decrease in overall investment by China from 2013 to 2016.<br />This means China imported less South Korean intermediary goods and capital goods ...which are used to make final products. <br /><br /> Another main reason is that Chinese consumers are moving away from manufactured goods, preferring to spend money on services instead.<br />Because consumption decreased in the world's largest manufacturing market from 2013 to 2015, this directly impacted South Korea exporters... who ship intermediate goods to China.<br /> The report suggested that South Korea should strengthen service-sector trade ties with China. <br />Ko Roon-hee, Arirang News. <br />
