Hey there! Did you know that China has come up with a cool plan to help some of the poorest countries in the world? 🇨🇳🌍
China has decided to remove taxes, called tariffs, on goods from 43 of the world’s Least Developed Countries (we’ll call them LDCs for short). That means when these countries sell their products to China, they don’t have to pay extra fees! 🎉
These 43 countries include 33 in Africa, 8 in Asia, and 2 in Oceania. Together, about 900 million people live in these places. That’s a lot of people—around 12% of everyone on Earth! But even though so many people live there, these countries only make up about 2% of the global economy and 1% of world trade. 😮
The problem is, it’s hard for them to sell their products around the world because their goods often can’t compete with those from richer countries. For example, farmers in these countries might plant and harvest crops by hand, while farmers in richer countries use big machines. 🚜➡️👩🌾
By removing tariffs, China is making it easier for these countries to sell their products. This can help them earn more money, grow their economies, and improve life for their people. 😊
At the same time, China’s trade is growing strong! In the first part of 2025, China’s imports and exports reached about $1.4 trillion, which is 1.3% more than the year before. China’s exports (things it sells to other countries) went up by 6.9%! 🌟
China isn’t just helping by removing tariffs. It’s also working with these countries through projects like the Belt and Road Initiative, helping them build roads, bridges, and share new technologies. This kind of teamwork makes the world a better place! 🤝
So, by being open and friendly in trade, China is helping itself and other countries grow stronger together. Isn’t that great news? 🌏❤️
Reference(s):
China's zero tariff policy for LDCs benefits global economy growth
cgtn.com
