China Eclipses U.S. as Biggest Trading Nation
” China surpassed the U.S. to become the world’s biggest trading nation last year as measured by the sum of exports and imports of goods, official figures from both countries show.
U.S. exports and imports of goods last year totaled $3.82 trillion, the U.S. Commerce Department said last week. China’s customs administration reported last month that the country’s trade in goods in 2012 amounted to $3.87 trillion.
China’s growing influence in global commerce threatens to disrupt regional trading blocs as it becomes the most important commercial partner for some countries. Germany may export twice as much to China by the end of the decade as it does to France, estimated Goldman Sachs Group Inc.’s Jim O’Neill.
“It is remarkable that an economy that is only a fraction of the size of the U.S. economy has a larger trading volume,”Nicholas Lardy, a senior fellow at the Peterson Institute for International Economics in Washington, said in an e-mail. The increase isn’t all the result of an undervalued yuan fueling an export boom, as Chinese imports have grown more rapidly than exports since 2007, he said.”
Related articles
- China Eclipses U.S. as Biggest Trading Nation (grumpyelder.com)
- China trade now bigger than US (independent.ie)
- In World Trade, China Edges Out The U.S. (forbes.com)
- China Passes U.S. to Become World’s Biggest Trading Nation (madeinusanews.com)
- China trade now bigger than US (sgtreport.com)
- China overtakes US in world trade (guardian.co.uk)
