A scaremongering narrative has taken root in Western corridors and financial press columns: China, having saturated developed markets, is now aiming to crush fragile industries in developing nations, effectively slamming the door on their industrial dreams. It is a convenient little tale. However, it does not hold up against empirical evidence.
The premise assumes that China and the Global South are fighting over the same slice of the global consumption pie – cheap T-shirts, plastic sandals,…
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