In yet another milestone in the growing economic power of China, I read this interesting, but not at all surprising piece yesterday that readers might take note of. Chinese exports since the year 2000 have been expanding at an annual rate averaging 25%. In the same period Germany’s overseas sales increased at an average rate of 13%. As many of you know, I am, and have been bullish on China for a long time; and as an investor, I am not at all threatened, nor deterred by their enlightened one-party, Market-based state. After all, we’re only one up on them, and to some, there’s not much difference between our two parties. But if your goal is RoI; or your interest is in global trade or the capital markets, read on lonesome warrior, read on…
BERLIN — Disappointed but not surprised, Germany lost its status as the world’s leading exporter, as China’s surging economy pushed it into first place last year, according to official German data published Tuesday.
Chinese exports amounted to $1.2 trillion in 2009, while German exports totaled $1.1 trillion, or €797 billion, the German Federal Statistical Office said. Germany became the top world exporter in 2003, surpassing the United States. Read more here.
