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China Has Accomplished Something In Global Trade Not Seen Since Colonial Britain

China Has Accomplished Something In Global Trade Not Seen Since Colonial Britain | Geography Education | Scoop.it

"China is a true mega-trader — a position last held by colonial Britain, with trade significant not only as a share of world trade (11.5%) but also of its own GDP (47%).  The U.S. is China's top export destination. China's trade with Latin America has risen more than 200 times since 1990 and is the fastest-growing corridor. China's trade is beginning to slow, however. Exports accounted for about 25% of GDP in 2012, down from 35% in 2007." 

Seth Dixon's insight:

This article is highlights what we already know; China is a dominant force in global trade (although the map should be centered on the Pacific to show China's real shipping lanes and interregional connections).  Containers are symbols of global commerce that enable economies of scale to be profitable and the outsourcing of so many manufacturing jobs to developing countries (almost 90% of everything we buy arrives via ship).  The invention of these containers have changed the geography of global shipping and the vast majority of the world's largest ports are now in East Asia. 


Tags: transportation, globalization, diffusion, industry, economic.

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Sid McIntyre-DeLaMelena's curator insight, May 29, 2014 12:51 PM

China's exportation has grown so high and has reached a multitude of nations, not unlike British Imperialism. Though China has reached a lot of nation and has grown economically, it has also slowed down.

The movement of goods is greatly portrayed in economic sectors through trade patterns.

 

Sean Goins's curator insight, November 13, 2014 1:31 PM

in the global market, china has become the rising power in the exporting market with latin america which has risen more than 200 times since 1990 and is the fastest, but has also slowed down in more recent times but is still one of the largest exporters in the world

Alyssa Dorr's curator insight, December 16, 2014 10:38 PM

A new Standard Chartered report by Madhur Jha and other Standard Chartered economists, titled "Global Trade Unbundled," highlights just how much of a trading giant China has become. "China is a true mega trader-- a position last held by colonial Britain, with trade significant not only as a share of world trade but also of its own GDP", according to Jha. "China will likely become a champion of free trade." In 2013, China topped the United States for the first time. China's imports and exports of goods amounted to $4.16 trillion dollars. The United States is China's top destination for exports. This is obvious because if we look on half the items we use daily, they probably say "Made in China". China's exports with Latin America and Africa are still continuing to grow rapidly. Jha and others believe that China will remain the top trader mostly because the economic recovery is a positive for China. Also because a lot of attention is paid towards exports from China rather than imports. China's trade rates are likely to keep growing at a steady pace.

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