| China has established itself as one of the world's great trading nations, moving past the UK into the 5th place. New figures from the World Trade Organization (WTO) show Chinese exports jumping 22% last year to US$325.6 billion-worth and imports rising 21% to US$295.2 billion-worth. No other trading nation in the top 10 came close to that level of growth. The world leader, the United States, saw exports fall 5% in 2002 from the previous year. Exports by 3rd-ranked Japan rose 3% while 2nd-ranked Germany reported a 7% rise. In the area of total trade flows, of just over US$13.1 trillion, the top 10 traders accounted for US$7.4 trillion or 56%. The US share is 13.78% while China has 4.73%. |
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