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China Becomes World"s Biggest Trading Nation

wrichcirw
Posts: 11,196
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2/9/2013 9:54:18 PM
Posted: 3 years ago
http://www.bloomberg.com...

China surpassed the U.S. to become the world"s biggest trading nation last year as measured by the sum of exports and imports, a milestone in the Asian nation"s challenge to the U.S. dominance in global commerce that emerged after the end of World War II in 1945.

China"s emergence as the biggest global trading nation gives it increasing influence, threatening to disrupt regional trading blocs as it becomes the most important commercial partner for countries including Germany, which will export twice as much to China by the end of the decade as it does to neighboring France, said Goldman Sachs Group Inc."s Jim O"Neill.

"For so many countries around the world, China is becoming rapidly the most important bilateral trade partner..."

Still, the U.S. economy is more than double the size of China"s, according to the World Bank. In 2011, the U.S. gross domestic product reached $15 trillion while China"s totaled $7.3 trillion.

"It is remarkable that an economy that is only a fraction of the size of the U.S. economy has a larger trading volume..."

The U.S. emerged as the preeminent trading power following World War II as it spearheaded the creation of the global trade and financial architecture and the U.K. began dismantling its colonial empire.

China was last considered the leading economy during the height of the Qing dynasty. The difference is that in the 18th century, the Qing Empire -- unlike rising Britain -- didn"t focus on trade. The Emperor Qianlong told King George III in a 1793 letter that "we possess all things.


I am similarly surprised that China achieved such high trading volumes. Apparently its trading volume was on a size equal to half its GDP last year. Rather astounding, IMHO.

Your thoughts on this development?
At 8/9/2013 9:41:24 AM, wrichcirw wrote:
If you are civil with me, I will be civil to you. If you decide to bring unreasonable animosity to bear in a reasonable discussion, then what would you expect other than to get flustered?
MouthWash
Posts: 2,607
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2/9/2013 10:16:48 PM
Posted: 3 years ago
Oh Em Gee! Tey r teh WORLD POWER!
"Well, that gives whole new meaning to my assassination. If I was going to die anyway, perhaps I should leave the Bolsheviks' descendants some Christmas cookies instead of breaking their dishes and vodka bottles in their sleep." -Tsar Nicholas II (YYW)
wrichcirw
Posts: 11,196
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2/9/2013 10:54:23 PM
Posted: 3 years ago
At 2/9/2013 10:16:48 PM, MouthWash wrote:
Oh Em Gee! Tey r teh WORLD POWER!

Beer makes anything look good.
At 8/9/2013 9:41:24 AM, wrichcirw wrote:
If you are civil with me, I will be civil to you. If you decide to bring unreasonable animosity to bear in a reasonable discussion, then what would you expect other than to get flustered?
malcolmxy
Posts: 2,855
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2/10/2013 10:40:06 AM
Posted: 3 years ago
I think their GSP is up to $9 trillion ($8 trillion? If your number is right, 8 makes more sense...) now, so they're not quite less than half of ours now...
War is over, if you want it.

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wrichcirw
Posts: 11,196
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2/10/2013 11:37:50 AM
Posted: 3 years ago
At 2/10/2013 10:40:06 AM, malcolmxy wrote:
I think their GSP is up to $9 trillion ($8 trillion? If your number is right, 8 makes more sense...) now, so they're not quite less than half of ours now...

Yeah those were 2011 numbers.
At 8/9/2013 9:41:24 AM, wrichcirw wrote:
If you are civil with me, I will be civil to you. If you decide to bring unreasonable animosity to bear in a reasonable discussion, then what would you expect other than to get flustered?
malcolmxy
Posts: 2,855
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2/10/2013 12:19:13 PM
Posted: 3 years ago
At 2/10/2013 11:37:50 AM, wrichcirw wrote:
At 2/10/2013 10:40:06 AM, malcolmxy wrote:
I think their GSP is up to $9 trillion ($8 trillion? If your number is right, 8 makes more sense...) now, so they're not quite less than half of ours now...

Yeah those were 2011 numbers.

And, there's keeps growin' all crazy-like, even in a pandemic economic downturn, and ours stays relatively stagnant, even though it should be spiking upward as we are technically still in an economic recovery period.

Telling...
War is over, if you want it.

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wrichcirw
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2/10/2013 2:29:48 PM
Posted: 3 years ago
At 2/10/2013 12:19:13 PM, malcolmxy wrote:
At 2/10/2013 11:37:50 AM, wrichcirw wrote:
At 2/10/2013 10:40:06 AM, malcolmxy wrote:
I think their GSP is up to $9 trillion ($8 trillion? If your number is right, 8 makes more sense...) now, so they're not quite less than half of ours now...

Yeah those were 2011 numbers.

And, there's keeps growin' all crazy-like, even in a pandemic economic downturn, and ours stays relatively stagnant, even though it should be spiking upward as we are technically still in an economic recovery period.

Telling...

A "hard landing" for China is typically 5% GDP growth. We'd kill for those kind of numbers, but for China, that's considered an extreme rough patch.
At 8/9/2013 9:41:24 AM, wrichcirw wrote:
If you are civil with me, I will be civil to you. If you decide to bring unreasonable animosity to bear in a reasonable discussion, then what would you expect other than to get flustered?
malcolmxy
Posts: 2,855
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2/10/2013 2:36:40 PM
Posted: 3 years ago
At 2/10/2013 2:29:48 PM, wrichcirw wrote:
At 2/10/2013 12:19:13 PM, malcolmxy wrote:
At 2/10/2013 11:37:50 AM, wrichcirw wrote:
At 2/10/2013 10:40:06 AM, malcolmxy wrote:
I think their GSP is up to $9 trillion ($8 trillion? If your number is right, 8 makes more sense...) now, so they're not quite less than half of ours now...

Yeah those were 2011 numbers.

And, there's keeps growin' all crazy-like, even in a pandemic economic downturn, and ours stays relatively stagnant, even though it should be spiking upward as we are technically still in an economic recovery period.

Telling...

A "hard landing" for China is typically 5% GDP growth. We'd kill for those kind of numbers, but for China, that's considered an extreme rough patch.

Yeah...maybe a managed economy which includes a government which controls its own monetary supply AND policy isn't the dumbest thing in the world after all.

Obviously, there are still a lot of issues with income disparity that China has to deal with, especially once a larger, more well defined middle class arises, but with growth like that, dealing with those problems is a helluva lot easier.

Plus, Shao Lin Buddhism is going to save the world. I swear to God...or someone...
War is over, if you want it.

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sadolite
Posts: 8,837
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2/11/2013 7:02:33 PM
Posted: 3 years ago
"China Becomes World"s Biggest Trading Nation"

HUH, go figure. Wonder how that happened. There should be a 100 million dollar govt study to find out how.
It's not your views that divide us, it's what you think my views should be that divides us.

If you think I will give up my rights and forsake social etiquette to make you "FEEL" better you are sadly mistaken

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malcolmxy
Posts: 2,855
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2/11/2013 9:52:57 PM
Posted: 3 years ago
At 2/11/2013 7:02:33 PM, sadolite wrote:
"China Becomes World"s Biggest Trading Nation"

HUH, go figure. Wonder how that happened. There should be a 100 million dollar govt study to find out how.

Naw, your free, trite, banal banter is sufficient in this case, me thinks.
War is over, if you want it.

Meet Dr. Stupid and his assistants - http://www.debate.org...