According to Reuters, Euler Hermes, a trade credit insurer owned by Allianz, recently released a report saying that China is likely to benefit $60 billion from the $1.9 trillion bailout and economic stimulus bill passed by the U.S. government last week.
The report notes that the bill will play an important role in boosting U.S. domestic demand and will also increase demand for imports of goods and services by $360 billion in 2021-22. Western Europe, Asia (except China) and China are likely to gain additional export benefits of $97 billion, $75 billion and $60 billion, respectively.
The export sectors that would benefit from this bill are, in order, household goods, computers and electronic communications, automobile manufacturing, and machinery and equipment. The industries that will benefit the most from the bill are computers and electronic communications, household goods and textiles.
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