Monday 11 February 2013

China trade now bigger than US


China is now the largest trading nation in the world in terms of imports and exports, after overtaking the US last year.

China has leapfrogged the US to become the world’s biggest trading nation, bringing an end to the US’s post-war dominance of global commerce.
The total value of US exports and imports in 2012 was $3.82 trillion (£2.4 trillion), the US Commerce Department has revealed. China’s customs administration has already announced that the country’s total trade last year was worth $3.87 trillion.
“It is remarkable that an economy that is only a fraction of the size of the US economy has a larger trading volume,” Nicholas Lardy, a senior fellow at the Peterson Institute for International Economics in Washington, told Bloomberg. “The surpassing of the US is not because of a substantially undervalued currency that has led to an export boom,” Mr Lardy said, pointing out that Chinese imports have grown at a faster rate than exports since 2007.
Not only has China managed to post a larger total trading figure, but the breakdown of imports compared with exports also makes for favourable reading in Beijing. China had a full-year trade surplus of $231.1bn with the US posting a total 2012 trade deficit of $727.9bn.
More here.
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6 comments:

  1. Anonymous11 February 2013 at 14:47

    Interesting read, China is the 'powerhouse' now and getting bigger daily
    Jeff

    ReplyDelete
  2. Anonymous11 February 2013 at 15:19

    Slow day in the diabetic research world Eddie? thought this was a low carb diabetic blog?

    ReplyDelete
  3. Lowcarb team member11 February 2013 at 17:12

    "Slow day in the diabetic research world Eddie? thought this was a low carb diabetic blog?"

    Slow day ? not as slow as your mind works I bet. Keep away from them Hobnobs dear.

    Eddie

    ReplyDelete
  4. Anonymous11 February 2013 at 23:11

    dear? that implies I am a woman and that's definitely not the case.

    ReplyDelete
  5. Lowcarb team member11 February 2013 at 23:37

    I see, so you think you’re a man do you anonymouse. Takes more than gonads lad.

    Eddie

    ReplyDelete
  6. Lowcarb team member12 February 2013 at 22:33

    Anonymous dear said...
    dear? that implies I am a woman and that's definitely not the case.

    Really! I'm afraid you do come across as bit of old woman in your comments dear.

    Graham

    ReplyDelete

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