http://www.bloomberg.com/news/2013-02-09/china-passes-u-s-to-become-the-world-s-biggest-trading-nation.html
Last year China surpassed the U.S. to become the world's biggest trading nation, as measured y the sum of exports and imports. U.S. exports and imports of goods in 2012 totaled $3.82 trillion, while China's trade in goods in 2012 amounted to $3.87 trillion. Analysts and economists are concerned that China's presence might disrupt regional trading blocs, like those in Europe.
China's economy has been growing at average 9.9 percent a year from 1978 through 2012. This is remarkable and unmatched by any other nation over this time period. Despite the constant growth China's economy is only half of U.S. economy, measured by GDP.
China became the world's biggest exporter in 2009, while U.S. remains the biggest importer in the world. Despite the data, some economists are skeptical about China's exports numbers, as China's customs administration reported an unexpected 14.1 percent export gain in December.
China has established its strong presence on the world market and despite skepticisms countries around the world will have to adjust to China's global presence by engaging in different trade blocs.
I'm pretty intrigued by the China's unexpected 14.1 percent export gain in December. Do you think if it is possible the Chinese government have forged the data? If so what could they gain from doing such a thing?
ReplyDeleteIt is possible that some receipts could have been forged but not very likely. Ministry of Commerce said the jump was caused by exporters who hurried shipments before a waiver of inspection fees expired at the end of the month. The increase in exports could also show the rising demand for Chinese goods, which plays well for China's view in the world.
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