Thierry Pairault posted on 5 November 2026 a brief analysis titled "Ambassador Wu Peng's Little Sums."
China's ambassador to South Africa was extolling the increase in South African exports to China following the elimination of Beijing's tariffs on 1 May 2026. While there has been a modest increase, it is smaller than it appears. The ambassador's calculations are in US dollars and fail to take into account the depreciation of the US dollar against the South African rand.
In the case of the increase in South African agricultural exports to China, the currency devaluation accounts for more than 30 percent of the growth in exports. In addition, the export of chrome ore, which makes up 30 percent of South African exports to China in 2026, have been exempt from China's tariffs since 2001 and have nothing to do with the expanded 1 May tariff exemption.
For the French version of this piece, see "Les petits calculs de l'ambassadeur Wu Peng."


