China becomes dominant trading partner

Booming business in Yiwu is a shining example of how fast China is working to challenge US primacy in global trade. Recent data released by the Associated Press, shows that China has become the top trade partner for most of the world.

As early as 2006, the US was the largest trading partner for 127 countries and regions, while it was just 70 for China. But in just 5 years, the world’s top and second largest economies switched places, as China became the top trade partner of 124 countries and regions in 2011, including US allies such as South Korea and Australia. The number is now just 76 for the US.

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