China’s Trade-to-GDP Ratio Reverts to Pre-21st Century Levels

From a peak of 64% in 2006, China's trade-to-GDP ratio declined to an average of 33% between 2016 and 2024. This reduction brings the ratio below all levels recorded from 2000 to 2016, effectively reverting to the trade dependence observed at the end of the 20th century. This shift underscores a significant transformation in China's economic structure, signaling a move away from export-led growth.