Tags: china | world | biggest | trader

China Rejects Status as World's Biggest Trader

Tuesday, 19 Feb 2013 02:40 AM


BEIJING — China's government has taken the unusual step of publicly denying it passed the United States last year as the world's biggest trader — a politically sensitive status.

Trade data from both governments indicate China passed the United States last year in total imports and exports by a margin of $3.866 trillion to $3.822 trillion, or about $44 billion.

China's Commerce Ministry issued a statement Tuesday denying that. It said China still lagged by $15.6 billion last year under World Trade Organization standards for valuing goods. That is equal to just 0.3 percent of China's total trade.

Beijing wants to be seen as a global leader but says it is a developing country. Its communist leaders are wary of any status that might lead to demands for more efforts to stimulate the global economy or concessions in talks on trade, climate change, or other contentious issues.

© Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
Zip Code:
Privacy: We never share your email.

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

© Newsmax Media, Inc.
All Rights Reserved