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Another feather for obama's cap

hypocritexposer

Well-known member

China trade now bigger than US

China is now the largest trading nation in the world in terms of imports and exports, after overtaking the US last year.


By Garry White

11:03AM GMT 10 Feb 2013

Comments232 Comments

China has leapfrogged the US to become the world’s biggest trading nation, bringing an end to the US’s post-war dominance of global commerce.

The total value of US exports and imports in 2012 was $3.82 trillion (£2.4 trillion), the US Commerce Department has revealed. China’s customs administration has already announced that the country’s total trade last year was worth $3.87 trillion.

“It is remarkable that an economy that is only a fraction of the size of the US economy has a larger trading volume,” Nicholas Lardy, a senior fellow at the Peterson Institute for International Economics in Washington, told Bloomberg. “The surpassing of the US is not because of a substantially undervalued currency that has led to an export boom,” Mr Lardy said, pointing out that Chinese imports have grown at a faster rate than exports since 2007.

http://www.telegraph.co.uk/finance/economics/9860518/China-trade-now-bigger-than-US.html



2 years to go, Mr. President


Obama Sets Ambitious Export Goal


By HELENE COOPER
Published: January 28, 2010

WASHINGTON — In promising Wednesday night to double the United States’ export growth over the next five years, President Obama set an ambitious goal for American trade policy that, he said, could create two million jobs.

http://www.nytimes.com/2010/01/29/business/29trade.html?_r=0
 
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