China world's biggest exporter
2010-02-13
by hrreporter.com
Economy projected to have grown 8.3 per cent in 2009, despite global recession
China has surpassed Germany to be become the world's top exporter in 2009.
The country's exports totalled C$1.24 trillion last year, compared to C$1.20 trillion for Germany.
China's status highlights its growing presence as an industrial power, major buyer of oil, iron ore and other commodities and as a key voice in the global economy.
China overtook Germany in 2007 as the third-largest economy and is expected to move ahead of Japan to second place behind the United States as early as this year.
During the global crisis, the government pumped C$606 billion into the economy, which helped the economy grow by a projected 8.3 per cent in 2009 while other economies, such as the U.S., struggled with economic contraction.
However, China is still one of the world's poorest countries, ranked 130th in per capita income in 2008, according to World Bank figures.
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