China's cheap goods are threatening to undermine its influence in the developing world

"There is significant backlash across the developing world to Chinese trade, lending, and investment practices, a trend that has only been accelerating in post-COVID," Charles Austin Jordan, a senior research analyst on Rhodium Group's China Projects team in Brussels, told Business Insider.

"So far this year, Brazil has slapped 35% tariffs on Chinese fiber optic cable, as well as 25% on steel and iron imports, while Indonesia has imposed 200% tariffs on Chinese textile imports."

"Thailand, for its part, has established a special government committee to clamp down on Chinese imports after the closure of hundreds of domestic factories, while Peru and Mexico are also imposing anti-dumping measures on Chinese steel."

"In recent decades, wealthy Western economies have been accused of neglecting their economic and diplomatic ties with the developing world, and China has happily stepped into the gap."

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