The dream about China as a Mecca for export is something that perhaps need adjustment according to Børsen.
The story of China as a country with a rapid growth in the economy is no longer the case. This, perhaps gloomy forecast, is coming from Børsen, a Danish newspaper specialising in business news. The export from Denmark to China has declined with 9,4 percent in the first six months of 2018 compared to the same period last year.
While the noughties could offer China double-digit growth rates in the GDP this is no longer the case and this has an impact on the import according to Børsen.
“There is not earlier in the statistics life since 1997 registered a bigger decline over a period of six months. This is obviously worrying as the export to China previously only has known one way and that is up,” says Tore Stramer, Chief Economist in Nykredit, to Børsen.
Børsen is also referring to an analysis from Jyske Bank in 2012 that proclaimed a tripling of the export so that in 2020 it would amount to more than 44 billion DKK. Faced with the current facts about Chinas economy, the bank does recognize the fact and says to Børsen that they probably were too optimistic back then.