The new Exportweltmeister

By | January 6, 2010

is China. According to a report in The Wall Street Journal, China overtook Germany in 2009:

China took over the mantle of the world’s top merchandise exporter from Germany in 2009, according to the latest figures, aided by a global economic crisis that has taken a greater toll on other trading powers.

China exported $957 billion of goods in the first 10 months of 2009, compared with $917 billion for Germany, according to customs data compiled by Global Trade Information Services, a Geneva-based firm.

No changes in November or December are expected to overturn the Chinese lead, trade experts say. China is likely to publish trade figures for the full year next week.

China’s claiming of the title of world’s largest exporter was widely expected, with annual growth in its exports regularly exceeding 20% during the past decade.

China in 2007 overtook Germany as the world’s third-largest national economy, and is on track to soon surpass Japan to become the second-largest economy after the U.S.

“China has been growing much more rapidly than Germany on all sorts of dimensions and has a population of 1.3 billion, while Germany has 83 million,” said Douglas Irwin, a professor at Dartmouth College.

China’s ascendancy has been accelerated by the international financial crisis, from which it has suffered less than other major economies. Continue reading.

Commentary on the same WSJ article in Der Spiegel.

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