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China surpassed the U.S. as the largest trading nation in the world last year, with the total...

  • Sunday, February 10, 4:24 AM ET
    China surpassed the U.S. as the largest trading nation in the world last year, with the total value of Chinese imports and exports hitting $3.87T while those of the U.S. reached $3.82T. Still, the latter's economy remains more than double the size of China's.
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This news story has 31 comments:

  •  
    I am predicting the chinese currency will become the standard for world trade in 10 years. It is already the most used one in many asia countries.
    10 Feb, 10:26 AM Reply Like
  •  
    So why China is buying Gold?
    http://seekingalpha.co...
    11 Feb, 01:08 AM Reply Like
  •  
    based on?
    10 Feb, 10:30 AM Reply Like
  •  
    Mr. hahaha48. I fear you are right.

    "China surpassed the U.S. as the largest trading nation in the world last year, with the total value of Chinese imports and exports hitting $3.87T while those of the U.S. reached $3.82T. Still, the latter's economy remains more than..."

    Hope and Change?

    Forward!

    I must admit, it hurts a little defending the homestead.
    10 Feb, 10:33 AM Reply Like
  •  
    And people wonder why the central banks are loading up on gold?

    China, for one, is really annoyed at our devaluation as it sits on a ton of our T Bills..

    To them 10 years is a nanosecond!!
    10 Feb, 12:48 PM Reply Like
  •  
    Obviously the numbers move around, but China has roughly double the total exports/GDP as the US: 28% (China) vs. 14% (US).
    10 Feb, 01:45 PM Reply Like
  •  
    I think it will be less than 5 years...they will have a gold backed yuan...and they will be the big game in town...they have cash...a good labor force that wants to learn and to work...the USA will be 25 trillion in debt and an unemployment number in the teens..
    10 Feb, 01:46 PM Reply Like
  •  
    The Pentagon and think tanks have noted for yours we are moving into a less hegemonic world which will mean a basket of currencies. I wouldn't count on the Yuan being the defacto reserve currency just quite yet. Has anyone seen the amount of state control in their banks? It is the reverse of here where the banks control the state. As much as dark pool finance structures do exist, it is still more transparent than CN.
    10 Feb, 10:52 PM Reply Like
  •  
    Brand New Year and Brand New Emperor for the Chinese!

    Emperor Xi, B.Sc (chemical engineering), LL.D (Law and Economics) will be crowned in a Coronation Ceremony in early March.

    Congratulations to His Imperial Majesty Emperor Xi!
    10 Feb, 05:39 PM Reply Like
  •  
    Even with a trade deficit of over $700B we lose ground; let us shoot for a $1T trade deficit and claim our number 1 spot...we'll teach China who is the top dog!!
    10 Feb, 05:59 PM Reply Like
  •  
    China is making a huge impact in the global economy, it's huge appetite for trade and manufacturing are taking the world economy by storm. It's now poised to overtake the US as the world's largest economy in the next few years.
    10 Feb, 07:02 PM Reply Like
  •  
    I agree with you but China might be there already for the following reasons:
    1- Due to exaggeration on productivity gains in the 90s
    2- Years of undercounting inflation and counting as GNP growth
    3- The economy has been growing since 07-08 by artificially counting the bailouts as growth
    4- I have issues when making a Big Mac is counted as manufacturing; the same case with moving debt from a desk to another desk
    5- IMHO, our GNP is exaggerated by 25%
    6- I am sure China plays around with numbers too but I think not to the extent over here because China doesn't want to face a billion hungry Chinese; the communists are afraid of rising food inflation
    7- Finally, imagine when the time comes that the Yuan appreciates 50%-100% in the near future and what it would do to their economy; and our economy will be stuck in reverse
    10 Feb, 08:31 PM Reply Like
  •  
    1. "Due to exaggeration on productivity gains in the 90s"

    that was inventory

    2. "Years of undercounting inflation and counting as GNP growth"

    What years were those, before 2005, 1997-05, inflation was mild. Then Cn began revaluing its currency ...

    3. "The economy has been growing since 07-08 by artificially counting the bailouts as growth"

    Were there MACRO-bailouts before the 09 Stimulus, driving devastating inflation.


    No more specific questions.

    Just the "billion hungry Chinese" cannot endure a RMB appreciation of 50-100% either.
    10 Feb, 08:49 PM Reply Like
  •  
    Productivity due to rising output per employee because of computers in workplace

    The way inflation is calculated has been changed has been changed several times to the extent that energy and food are not included

    The losses from hurricane Katrina was l assume about $100B but since the government came up with this money, it shows up in the GDP as growth

    The RMB of 50%-100% will keep imports price low and food inflation down; what is wrong with this?; people will have an automatic pay raise and more money to spend and most of the people standard of living goes up; that's good no? manufacturing costs will go up and exports will suffer; sooner or later China has to make this transition and develop its own consumer economy; with regard to developing internal consumption, I read that China is being successful; I think the gains will outweigh the pains
    10 Feb, 09:52 PM Reply Like
  •  
    It is very essential for China to have strong emperors IAW with the Chinese tradition of their Glorious Han and Tang Dynasties, and the Qing Dynasty's Hongxi and Quinlong Eras. It looks as if they have finally figured out how to breed stronger and stronger emperors by their own specific chosen and peculiar ways and means.

    They butchered 26M poor souls though in the Commie Takeover, according to its own conservative estimate.
    10 Feb, 07:42 PM Reply Like
  •  
    Probably still are with the one child requirement
    11 Feb, 08:05 AM Reply Like
  •  
    " huge appetite for trade and manufacturing"

    close to 60 percent of Cn Exports are from non-Cn multinational corporations
    10 Feb, 07:45 PM Reply Like
  •  
    Does it matter who is the largest trading nation? As long as we stand to make a buck and have some fun.
    10 Feb, 07:55 PM Reply Like
  •  
    Well, I hope you had some fun and made a few $$ already because times are changing
    10 Feb, 08:35 PM Reply Like
  •  
    Making a Buck in the future could be difficult...but making Yuans is a shoe in...
    12 Feb, 08:10 AM Reply Like
  •  
    This may change going forward with the domestic oil/nat gas renaissance that is occurring. Hopefully we'll become a net exporter of fossil fuels one day....
    10 Feb, 08:34 PM Reply Like
  •  
    Yes, all at once we are going to be energy independent in a few years; how convenient; so we can withdraw our troops from the ME and save all that money; why we went the in first place? for oil..then all our problems are solved....yes that will be the day
    12 Feb, 12:22 PM Reply Like
  •  
    lol.... do you even understand what has happened to domestic production in the past 5 years?
    12 Feb, 01:09 PM Reply Like
  •  
    So what is your point? domestic production is up by what amount? why are we still in ME when we can increase our production and going broke in the process; pardon me!! it's all about the petrodollar- we pay for their oil with cheaper $$ and they buy our T bonds; what a system!! how long do you think it is going to continue? are me and you going to buy the T bonds? LOL
    12 Feb, 09:00 PM Reply Like
  •  
    What no one seems to have noticed in the rush to declare a brave new world of pseudo-Communism is that Chinese exports are occasionally triple and quadruple counted.

    http://bit.ly/WDJogZ
    10 Feb, 11:23 PM Reply Like
  •  
    I thought that whatever country has the manufacturing base, it can generate income to pay its way and determines its economic and military power like US did after WWII and the depresssion; isn't China at the same point? they have the manufacturing and have some economic issues which can be solved; as for war, I don't think China wants a shooting war because it can achieve its goals with gold and silver
    12 Feb, 12:29 PM Reply Like
  •  
    "Chinese exports are occasionally triple and quadruple counted. "

    But does that matter, the trade balance is the bottom line-- right, indicating that broadly Americans consume too much right?
    11 Feb, 01:26 AM Reply Like
  •  
    China, Hacking our government computers and #1 manufacturer of fake dog poop. Part of me wants to be scared, part of me wants to laugh. China has a rising middle class. This will hurt their cheap labor pool. China is destroying their enviroment and polluting their air which will also hurt it (along with the rest of the world) in the long run.
    11 Feb, 01:53 AM Reply Like
  •  
    USA consumers are ignorant, not learning of past faults. No wonder Cn will overtake the USA in prudence.

    http://bit.ly/YnWSdg

    Savings: 5 signs Americans are forgetting the lessons of 2008

    After a period of belt-tightening in 2008, when Americans boosted their personal saving rate to a 15-year high, the annual rate has fallen again, from 5.4 percent to just 3.9 percent. Are consumers letting their guard down? Declining savings is one of five signs that American households are forgetting the lessons of the Great Recession:

    By John Gower, Contributor
    posted February 7, 2013 at 2:30 pm EST


    This should be the year Americans make an effort to turn their finances around. BUT ...

    1.Saving rate remains near historic lows
    2.Fewer families are saving
    3.Financial asset values have fallen in most categories
    4.Retirement savings options are harder to come by
    5.Debt remains at distressing levels
    12 Feb, 07:40 AM Reply Like
  •  
    I agree with you the US consumers has not learned anything from the 2007-2008 shellacking; people started to use home equity like their ATM again; the problem is that consumers still think that good times will be back again and the Feds is still promoting cheap mortgages
    12 Feb, 08:36 PM Reply Like
  •  
    Talking about making a $, 95 % of Americans have a savings account that is drawing the bear minimum because they don't look for better deals. I'm sure someone reading this has a merger saving account. China is growing and the world needs them to continue to grow. America just needs to get its house in order starting with one person at a time. Each person can affect the folks that work in the senate and the congress. Give them more and they will spend it. Imagine if congress did to us what the government in cypress did tot them. People having over 130,000 dollars in saving got taxed on that money and had to give a portion of it up. " The European Central Bank, International Monetary Fund and Cyprus announced an immediate and surprise tax of 6.75% to 9.95% on savings accounts that will be withdrawn on Tuesday morning (Monday is a holiday in Cyprus). It should raise about 5.8 billion Euros or $7.5 billon. It seems the ECB and IMF have decided to take depositors money vs. restructuring debt so that Cyprus could qualify for a 10 billion Euro (about $13 billon) bailout." From Forbes. Imagine if the world had to bail out China!!!!!!!!!
    14 Apr, 08:37 AM Reply Like
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