{"id":80965,"date":"2024-09-11T00:00:00","date_gmt":"2024-09-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/09\/11\/taiwans-us-exports-have-overtaken-china\/"},"modified":"2024-09-11T00:00:00","modified_gmt":"2024-09-11T00:00:00","slug":"taiwans-us-exports-have-overtaken-china","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/09\/11\/taiwans-us-exports-have-overtaken-china\/","title":{"rendered":"Taiwan\u2019s US exports have overtaken China"},"content":{"rendered":"

China\u2019s exports increased 9% y-o-y to USD 309 bn in August<\/strong>, hitting their highest value in almost two years and rising above market forecasts, Bloomberg<\/a> reports. Imports also rose, though marginally, up 0.5% y-o-y in August. China\u2019s trade surplus for the month hit USD 91 bn. However, China's weak domestic demand and high export competitiveness is weighing down its economy. \u201cThe question is how long exports can stay strong given the weakening US economy and the rising trade tension,\u201d Pinpoint Asset Management chief economist Zhiwei Zhang was quoted as saying by the news outlet.<\/p>\n

Taiwan\u2019s US exports<\/strong> have overtaken China\u2019s: <\/strong>Taiwan\u2019s exports to the US rose to USD 11.89 bn in August, topping the record for any month\u2019s shipments to China as the US\u2019 AI boom boosts Taiwanese exports, particularly for tech-related shipments, <\/span>Bloomberg<\/a> reports. The monthly record comes on the back of US efforts to rewire Asian trade. Japan\u2019s US exports beat shipments to China for 22 months \u2014 the longest period since 2017.<\/span><\/p>\n

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Several US firms have <\/strong>halted offshore oil and gas productions as Tropical Storm <\/strong>Francine intensifies<\/strong>, Reuters<\/a> reports. Exxon cut production at its Hoover production hub, while Chevron pulled out its workers from four offshore facilities and halted oil and gas output at two facilities. Shell cut production at one platform, paused drilling operations at two, and transferred workers from three facilities. The port of Brownsville in Texas was closed and others from Corpus Christi north to Galveston enforced restrictions. <\/p>\n

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