China Review News (CRN) recently quoted the Chinese Commerce Ministry, which made the statement that China’s total import/export volume may surpass the United States by the end of this year. This means that, for the first time, China may become the largest trade country in the world. The Commerce Ministry suggested that this world record “did not come easy,” especially in a tough time when the world economy is suffering from low demand. The Ministry expressed the belief that the primary reasons for this achievement are the improved international market environment and the improved competitiveness of Chinese companies. Bloomberg News suggested last year that China is about to set the biggest international trade milestone since 1945, when the United States obtained its dominant status. According official Chinese data, unless there is a major unexpected disaster, China will surpass the United States in the volume of both imports and exports. However the experts argued that being “big” is not necessarily being “strong.” It is much harder to remain the largest.
Source: China Review News, September 26, 2013