(business) China's Exports Overtake Japan (moved from ATSNN)

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posted on Apr, 15 2005 @ 05:17 AM
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Continuing to see major increases in its exports, largely in the electronics and technology sectors, China has now replaced Japan as the world's third largest exporter of commercial goods.
 



news.ft.com
China has overtaken Japan as the world's third largest exporter, the World Trade Organisation said on Thursday, after a surge in demand for its electronic goods led to a 35 per cent jump in the country's overseas sales.

However, a slackening of the pace of investment by China and the US was likely to moderate economic activity and thus trade growth this year, the WTO said.

It now expects growth of world trade in goods to slow to 6.5 per cent this year from 9 per cent in 2004, although this would still be above the average for the past decade. Higher oil prices and interest rates would contribute to the slowdown as would industry predictions of a “pronounced weakening” in the information and telecommunications equipment sectors.


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While hardly surprising news in itself, many people may be surprised that it is not just "cheap labor manufacturing" that is contributing to China's phenomenal growth in international trade, but high-technology items such as computers, cell phones, semiconductors and yes, advanced military technology.

Opinions and feelings may vary about this trend, but it is highly likely that China will continue to make major strides in its economy and further establish itself as a world economic superpower.

Background information on China and World Trade.



[edit on 4/15/2005 by Majic]






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