China Becomes New World Export Leader
China is heading into the Year of the Tiger with a roar. Last week it was announced that China has surpassed the U.S. as the world's biggest auto market, and this week Chinese state media is reporting that the country's exports leaped 17.7 percent in December, overtaking Germany as the global leader.
China is heading into the Year of the Tiger with a roar. Last week it was announced that China has surpassed the U.S. as the world’s biggest auto market, and this week Chinese state media is reporting that the country’s exports leaped 17.7 percent in December, overtaking Germany as the global leader. –JCL
WAIT, BEFORE YOU GO…The BBC:
China’s exports rose 17.7% in December, state media has reported, suggesting the country has overtaken Germany as the world’s largest exporter.
The rise, compared to a year earlier, breaks a 13-month decline in trade as a result of the global downturn.
Xinhua said total exports for 2009 were $1.2tn (£749bn), but total foreign trade over the year was down 13.9%.
Correspondents say the figures will lead to new demands from China’s competitors that it revalue the yuan.
If you're reading this, you probably already know that non-profit, independent journalism is under threat worldwide. Independent news sites are overshadowed by larger heavily funded mainstream media that inundate us with hype and noise that barely scratch the surface. We believe that our readers deserve to know the full story. Truthdig writers bravely dig beneath the headlines to give you thought-provoking, investigative reporting and analysis that tells you what’s really happening and who’s rolling up their sleeves to do something about it.
Like you, we believe a well-informed public that doesn’t have blind faith in the status quo can help change the world. Your contribution of as little as $5 monthly or $35 annually will make you a groundbreaking member and lays the foundation of our work.
There are currently no responses to this article.
Be the first to respond.