When Trump Sells a MAGA Hat, Chinese Factory Earns Money
Ryan Li does not have a vote in the US presidential election. But if he did and was voting with his wallet, he would support Donald Trump rather than his challenger Joe Biden.
Mr Li, a manufacturer at the sprawling Yiwu International Trade Centre, a wholesale centre in eastern Zhejiang province, has been turning down orders to make Chinese flags for the week-long National Day holiday. Instead, he has discovered there is more money to be made manufacturing merchandise for the US president’s supporters.
“I work for whoever offers the best terms,” said Mr Li, who can charge Rmb5 (74 cents) per piece of Trump paraphernalia but gets only Rmb4.5 for each Chinese flag.
Mr Li is one of a number of Chinese merchants profiting from making everything from hats to wristbands for the US presidential race. Many work with wholesalers that sell the unofficial goods at Trump rallies, online or to US retailers.
Given the rapid deterioration in Sino-US relations this year, and Mr Trump’s targeting of China throughout his presidency, the campaign boom is probably the most ironic part of China’s export renaissance.
“China’s exports are recovering faster than people think,” said Larry Hu, an economist at Macquarie Group, the Australian bank. Chinese factories have in recent months reported a sharp rebound in orders from American buyers. Exports to the US surged 16 per cent year on year in July and August, compared with an 11 per cent drop in the first six months of 2020, according to official data.