China has overtaken Germany as the world’s biggest exporter, in yet another show of strength for Beijing’s booming economy.
In a dazzling December, Chinese exports leapt more than 17 percent from a year earlier. Imports surged over 55 percent.
For those in the know, it is not a surprise.
Zhuang Jian, a senior economist with the Asian Development Bank, said: “China is a huge country. After joining the World Trade Organisation, China used the opportunity to expand its exports, with policies backing this up.”
China roared past the United States in the auto sales stakes, reaching record levels in 2009.
Passenger car sales in December alone jumped nearly 89 percent from the previous year.
With its thriving investment and consumption helping to rebalance the world economy, Chinese manufacturing has also continued to expand. Figures show that in December, new orders received by factories rose for the ninth month in a row.