Yiwu’s trade resilience amid shifting global dynamics

[WORLD] At China’s largest wholesale market in Yiwu, the sound of American English is a rarity among the bustling aisles lined with everything from holiday ornaments to industrial tools. While U.S. buyers are scarce, their absence has not gone unnoticed.

Analysts say the decline in American presence points to broader geopolitical frictions and evolving global trade strategies. With tariffs prompting many U.S. businesses to seek out suppliers in Southeast Asia or Mexico, China’s role in certain supply chains has diminished. Yet Yiwu has proven remarkably resilient, continuing to anchor itself in global trade by attracting a wider, more varied international clientele.

In place of American accents, Arabic, Russian, and Spanish dominate negotiations on the market floor. Despite the absence of American buyers, local traders report little disruption, suggesting that U.S. tariffs on Chinese imports have had limited direct impact on operations at this global hub for small commodities.

Yiwu’s enduring strength is underpinned by a robust logistics infrastructure that seamlessly links its manufacturers with buyers across Africa, Latin America, and the Middle East. As economic uncertainty fuels demand for cost-effective goods, these markets have grown increasingly important. Many Yiwu vendors have also expanded their reach through e-commerce, further insulating themselves from geopolitical headwinds.

According to Yiwu customs, the United States made up less than 15% of the city’s exports in 2024, totaling 83.6 billion yuan (US$11.5 billion). Traders say the fallout from the trade war has been eased by a broader and more diverse global customer base.

Experts note that Yiwu’s pivot away from dependence on U.S. buyers predates recent tensions. Local businesses had long been cultivating markets along the Belt and Road Initiative, a strategy that bore fruit with nearly 20% growth in exports to those regions last year.

Support from Chinese authorities has further shored up Yiwu’s role in international trade. Policymakers have rolled out tax breaks and simplified customs procedures aimed at strengthening small and medium-sized enterprises, reinforcing the city’s standing as a cost-efficient, high-volume trading center—even as global trade patterns shift under rising protectionism.