China influences global trade with Hainan’s significant role

China’s influence on global trade has been reshaped with Hainan’s recognition as a separate customs zone, supported by favorable regulations. The region is now the world’s largest free trade port, larger than Singapore and Belgium combined. This move emerges amidst a global trend of increasing trade restrictions and investment controls to mitigate market uncertainties. The state-led economy of China has a history of adopting capitalist strategies through special economic zones (SEZs). This trend started in the late 1970s and continues with Hainan’s development as a key player in global trade. SEZs allowed China to blend capitalist approaches within its economic…