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With FCR approaching $4 trillion China will defacto become the reserve banker of the world.
Wonderful!
For the first time in 200 years an Asian superpower will dominate the state of the earths affairs.
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China surpasses US as world's largest trading nation
Beijing describes 2013 figures as 'a landmark milestone' as annual trade in goods passes the $4 tillion mark for the first time
By Angela Monaghan of the Guardian and Information Clearing House.
China has overtaken the US in annual trade in goods, according to official figures. Photograph: Mark Lennihan/AP
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China
became the world's largest trading nation in 2013, overtaking the US in
what Beijing described as "a landmark milestone" for the country.
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China's annual trade in goods passed the $4tn (£2.4tn) mark for the first time last year according to official data, after exports from the world's second largest economy rose 7.9% to $2.21tn and imports rose 7.3% to $1.95tn.
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As a result total trade rose 7.6% over the year to $4.16tn. The US is yet to publish its 2013 trade figures, but with trade totalling $3.5tn in the first 11 months of the year, it is unlikely to beat China.
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The shift in the trading pecking order reflected China's rising global dominance, despite a slowdown in economic growth last year.
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Zheng Yuesheng, a spokesman for China's customs administration, said: "It is very likely that China overtook the US to become the world's largest trading country in goods in 2013 for the first time. This is a landmark milestone for our nation's foreign trade development."
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China had already become the world's largest exporter of goods in 2009.
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The country's trade surplus rose 12.8% in 2013 to almost $260bn, but the December surplus of $25.6bn was down 17.4% and fell short of the $31.15bn predicted by economists in a Reuters poll.
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Stan Shamu, market strategist at IG, described the December figure as "a high-quality miss once dissected".
.
"Imports were up 8.3%, easily surpassing expectations of 5% and showing the second highest nominal reading ever recorded. While exports missed estimates at +4.3% (as opposed to the expected +5%), the value of exports was the highest ever recorded."
.
.
China's annual trade in goods passed the $4tn (£2.4tn) mark for the first time last year according to official data, after exports from the world's second largest economy rose 7.9% to $2.21tn and imports rose 7.3% to $1.95tn.
.
As a result total trade rose 7.6% over the year to $4.16tn. The US is yet to publish its 2013 trade figures, but with trade totalling $3.5tn in the first 11 months of the year, it is unlikely to beat China.
.
The shift in the trading pecking order reflected China's rising global dominance, despite a slowdown in economic growth last year.
.
Zheng Yuesheng, a spokesman for China's customs administration, said: "It is very likely that China overtook the US to become the world's largest trading country in goods in 2013 for the first time. This is a landmark milestone for our nation's foreign trade development."
.
China had already become the world's largest exporter of goods in 2009.
.
The country's trade surplus rose 12.8% in 2013 to almost $260bn, but the December surplus of $25.6bn was down 17.4% and fell short of the $31.15bn predicted by economists in a Reuters poll.
.
Stan Shamu, market strategist at IG, described the December figure as "a high-quality miss once dissected".
.
"Imports were up 8.3%, easily surpassing expectations of 5% and showing the second highest nominal reading ever recorded. While exports missed estimates at +4.3% (as opposed to the expected +5%), the value of exports was the highest ever recorded."
.
