Shafaqna English– In May, China’s export growth picked up pace thanks to strong demand for chips, cars, and other high-tech products that are driving the global AI boom. This provided some comfort to policymakers, even as energy price shocks stemming from the Iran conflict continued to put pressure on overall demand.
A boom in global AI investment has allowed the world’s largest manufacturer to compensate for the export damage that many had anticipated from the Middle East conflict. However, there are now signs that stockpiling driven by higher energy costs is fading, as rising prices and overseas buyers who are waiting for a ceasefire begin to reduce their inventories.
Source: Reuters