Beijing’s trade blocks against Taiwan affect under 1% of their two-way trade. But military drills in the Taiwan Strait may delay shipments, analysts warn.
When it comes to Taiwan's imports from mainland China, more than half of the $82 billion traded in 2021 were electrical machinery, electronic and technological parts as well as nuclear reactors and boilers.
Similarly, the targeted trade of citrus was valued at a relatively small $10 million last year, though mainland China was also Taiwan's biggest citrus buyer, Taiwan's trade data showed. "China's economic retaliation against Taiwan is a long-standing strategy in its diplomatic playbook. That said, its decision to target relatively low-value trade items reflects the limits of its economic pressure toolbox," said global trade lead analyst at the Economist Intelligence Unit, Nick Marro.
The bank also said mainland China will continue to import from Taiwan as long as it needs the goods, similar to what it has done in other trade conflicts such as the one it has with Australia and the United States., China restricted the purchase of some goods such as barley and coal but continued to buy iron ore from Australia, a key ingredient for China's steel production and the bedrock of the countries' trade.
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