Aditi Rasquinha, CEO of DHL Global Forwarding Greater China says the region's export growth has been resilient despite a pullback in U.S.-China trade, with alternative trade routes opening up.

Beijing

Aditi Rasquinha, CEO of DHL Global Forwarding Greater China, stated that exports from China have grown by about 7% in the first five months of the year, despite a slowdown in trade with the United States. She noted that while U.S.-bound exports have declined, alternative trade routes and markets such as the Middle East, Africa, Latin America, and Southeast Asia have seen significant growth.

Rasquinha explained that companies are diversifying their strategies, with some focusing on 'China for China' production and others shifting manufacturing to regions like Southeast Asia or the Middle East. The electric vehicle (EV) sector remains strong, with China as the dominant market, and increased demand for EVs and related technology in Europe, the Middle East, Africa, and Latin America.

DHL says growth from China has held up despite U.S. trade war

Are you seeing a pullback in terms of the overall numbers coming out of a greater China at the moment because of a lot of uncertainty? Actually, not at all. The first five months of export to China have seen about 7% of growth. But not necessarily to the U.S.? To the U.S., correct. Correct. So there's alternative trade lanes that are coming about. We see the Middle East and Africa growing quite a bit, Latin America, and intra-Asia of course with the boom of manufacturing in Southeast Asia as well. And when you're talking about this diversification or some kind of reconfiguration of these businesses' strategy, what do you see more of? Is it China plus one? Is it in China, for China, or reshoring, finding new friends somewhere else? Combination of all of it, actually. So it really depends on the industry you're in and the products that you make. Because different products and industries attract different tariffs. So we are seeing quite a bit of China for China, but you're seeing moving to Southeast Asia or Middle East, Africa, Europe for the U.S., right? And the rest of the production for the rest of the world is largely in China. I have to bring in the EV angle, and I actually teased our interview talking about this as well. Launching this EV center in Shanghai, I mean, obviously, China has a lot of EVs, and we often talk about excess capacity of EVs now. And where is it going, first of all? And have you seen an unusual sort of a pickup in numbers to a particular market? Okay. So EVs, I mean, of course, China is the most dominant market on it. We have seen a lot of European businesses buy actually trucks, so EV trucks, to look at the long-range road transport. You see a pickup in Middle East and Africa, because they are markets that are looking at new energy and new technology. Latin America, you see this journey start with Brazil and a lot of Latin America countries as well. And Southeast Asia, so those have been the largest markets, and China continues to remain the largest market for EVs.

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