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Cheaper CN Goods Flowing into Australia, Helping Tame Local Inflation: Report
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A large influx of low-priced Chinese goods is entering Australia, according to Bloomberg. Local consumers' tendency to buy products from China at lower prices and a recent slowdown in inflation have given the Reserve Bank of Australia confidence to consider a rate cut this week. It is understood that US tariff policies have made it harder for Chinese manufacturers to access the US market. Coupled with the softness in China's economy, Chinese manufacturers are scrambling to expand into more overseas markets. Temu, the cross-border e-commerce platform under PDD (PDD.US), has already captured an immense share of Australia's online sales, while Shein, known for selling Chinese-made apparel, has recently launched its first Australia-focused brand, Aralina. In addition, JD-SW (09618.HK) has rolled out an Australian website, and BABA-W (09988.HK) (BABA.US) has introduced an English version of the "618" shopping festival on Taobao. AAStocks Financial News |
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