Find the latest episode of "The Uncertain Hour" here. Listen

China pulling to lead in world exports

Scott Tong Dec 28, 2009
HTML EMBED:
COPY

China pulling to lead in world exports

Scott Tong Dec 28, 2009
HTML EMBED:
COPY

TEXT OF STORY

Stacey Vanek-Smith: It’s been a huge year for China, and now the country’s on track to end the year as the world’s leading exporter — pushing Germany out of the top spot. From Shanghai, Scott Tong reports.


Scott Tong: China’s exports of goods “will probably surpass” Germany this year. That’s how China’s vice commerce minister put it.

It won’t be a big surprise, cause China’s been gaining. This decade, Chinese exports have grown an average 25 percent a year. That’s twice as fast as Germany. The two titans each shipped out about $1.4 trillion of goods last year. That’s 9 percent of global trade.

The U.S. sits in third place with 8 percent, though it is the world’s leading exporter of services — for instance, consulting and banking.

For all China’s success, here’s an asterisk or two. Almost half its exports are simply taking parts from outside China and assembling them. And China takes a lot of heat for facilitating its exports with an artificially cheap currency.

In Shanghai, I’m Scott Tong for Marketplace.

News and information you need, from a source you trust.

In a world where it’s easier to find disinformation than real information, trustworthy journalism is critical to our democracy and our everyday lives. And you rely on Marketplace to be that objective, credible source, each and every day.

This vital work isn’t possible without you. Marketplace is sustained by our community of Investors—listeners, readers, and donors like you who believe that a free press is essential – and worth supporting.

Stand up for independent news—become a Marketplace Investor today with a donation in any amount.