Overpowering Output

A container is lifted aboard a container ship at a port in Qingdao, China, as a procession of trucks await their turn.
A container is lifted aboard a container ship at a port in Qingdao, China, as a procession of trucks await their turn.

 

China is continuing to dominate the global trade market by acting as the factory of the world, despite some predictions about the slowdown of the Chinese economy.

According to the U.N. Commodity Trade Statistics for 2013, which is the latest version, China topped the global market with 1,538 trade items.

The number increased rapidly from 1,351 to 1,417 and then to 1,485 between 2010 and 2012. In 2013, the number was 733 for Germany, 550 for the United States, and 216 for Italy, altogether 39 less than China. Korea had no more than 65 trade items, enjoying the highest global market share during the same period.

China’s global number one product included textile goods, electronic machinery, and non-electronic machinery, while Korea’s included memory semiconductor products, auto parts, tankers, and special ships.

In the meantime, the number of Chinese companies on the Fortune 500 list went up from 73 in 2011 to 89 in 2012 and 95 in 2014.

According to the International Monetary Fund (IMF), China recorded a GDP of US$17.6 trillion on a purchasing power parity basis last year, beating the United States by a margin of approximately US$200 billion.

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