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China unseats U.S. as top trader in world
China has unseated the United States, and is now No. 1 when it comes to trade and the total sum of exports and imports, according to U.S. Commerce Department statistics.
Last year, the United States’ exports and imports totaled $3.92 trillion. China‘s, meanwhile, was $3.87 trillion, Newsmax reported.
China’s rising economic influence has not gone unnoticed by other nations. Germany, for instance, is predicted to export twice as much to the nation in the coming decade as it will to France, Newsmax reports.
“For so many countries around the world, China is becoming rapidly the most important bilateral trade partner,” said one Goldman Sachs Group Inc. analyst.
Adding to the significance of the trade numbers: The United States has an economy that’s twice the size of China‘s, Newsmax reports. U.S. gross domestic product in 2011 was $15 trillion; China‘s, that same year, was $7.3 trillion, according to World Bank figures.
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About the Author
Cheryl Chumley is a continuous news writer for The Washington Times. Previously, she was part of the start-up team for The Washington Times’ digital aggregation product, Times247. She’s also a 2008-2009 Robert Novak journalism fellow with The Phillips Foundation. She can be reached at firstname.lastname@example.org.
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