China surpasses the US to become the world's leader in trade.
China has reportedly become the largest economic trading country in the world, finally passing the United States, which has held the top spot for decades.
US imports and exports were valued at 3 point 82 trillion dollars during 2012, and China’s customs administration said that their country’s total trade was valued at 3 point 87 trillion last year.
In addition to import and export figures, China had a trade surplus of over 200 billion dollars, while the US claimed a trade deficit of over 700 billion.
The new data is a relief for economic analysts who foresaw a down turn for the economy of China.
A report from the National Intelligence Council predicts that by 2030, China will be the largest economic power in the world.
The report says that " …by 2030, Asia will have surpassed North America and Europe combined in terms of global power, based upon GDP, population size, military spending, and technological investment. China alone will probably have the largest economy, surpassing that of the United States a few years before 2030.”
What do you think? Will China challenge the United States as the world’s top economic super power?