Re:China surpasses US as world's largest trading nation
by pjg on Saturday January 11, 2014 @07:36PM
(#7044553)
This is incorrect (not the first time Guardian has published misleading articles )
The headline says "world's largest trading nation" Total trade is the sum of trade in goods and services. China may have become the largest trader in goods but it is sixth largest in services. US is still the largest in trade in services by far and if the sum of trade in goods and services is counted, looks like China will still take few years to pass America.
Year 2012: US total trade in services = $1.02T
China total trade in services = $0.471T
The headline says "world's largest trading nation" Total trade is the sum of trade in goods and services. China may have become the largest trader in goods but it is sixth largest in services. US is still the largest in trade in services by far and if the sum of trade in goods and services is counted, looks like China will still take few years to pass America.
Year 2012: US total trade in services = $1.02T China total trade in services = $0.471T
Source: WTO http://www.wto.org/english/news_e/pres13_e/pr688_e.htm (look at Appendix 2 at the end of the article )