Already the biggest auto market and steel maker, China edged past Germany in 2009 to become the top exporter. This signals yet another sign of the rapid rise and the spread of power from West to East.
- China – 2009 exports were $1.2 trillion
- Germany – 2009 exports were $1.17 trillion
China’s unseating of longtime export leader Germany reflects its ability of agile, low-cost Chinese manufacturers that can keep selling abroad even as other exporters have been hammered by a slump in global demand. Already, China overtook Germany in 2007 as the 3rd largest economy and is expected to oust Japan as No. 2 (behind the US) as early as this year.
Source: AP
