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By 2006, China, in conjunction with Hong Kong, was the second-largest trading nation in the world – up from 15th in 1990. Despite importing billions of dollars of raw materials to feed its hungry industrial manufacturing sectors, China maintains an overall trade surplus. This is in stark contrast to the USA which, despite being the largest trading nation in the world, is in deficit. China’s economy has been growing at an extraordinary rate, and trade plays a vital role in the country’s economic liberalization and modernization. Between 2003 and 2007, exports – almost all of which are manufactured commodities – nearly trebled. Although European traders have progressively increased their share of China’s markets, the overwhelming bulk of China’s trade, and its fastest-growing partnerships, are with its Asian neighbors. However, China’s development strategies in Africa, Latin America and the Oceanic island nations suggest that these regions are increasingly providing China with markets as well as raw materials.

see also page 105

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The State of China Atlas

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