In a historic moment in the history of world trade, the last month of the decade saw China displace Germany to become the
world's top exporter. Exports for December 2009 rose 17% to reach $130.7 billion, and took the total exports for the year to $1.2 trillion, compared to Germany's forecasted $1.17 trillion (816 bn euros).
Though China’s exports fell by around 17% in 2009 as a whole,
other countries’ slumped by even more. Its share of world exports have more than tripled to almost 10% from just 3% in 1999. Chinese exports form 19% of US imports and China accounts for almost half of US trade deficit, up from less than athird in 2008.
1 comment:
Think about this.
1. This state is not a permanent state. It is only temporary. China will ultimately have to move over for some other country.
2. What are the reasons for such export oriented growths in economies.
3. Reasons for Japan's fall--koreas rise--then china's rise.
4. The set of circs which caused those changes.
5. Reasons why Germany stayed at the top for so long.
6. Difference : specialization in germany ? Mass production with labour/incentives as the mainstay?
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