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China has become the world's second largest economy by GDP (Nominal) and largest by GDP (PPP). 'China developed a network of economic relations with both industrial economies and those constituting the semi-periphery and periphery of the world system.' [1] Due to the rapid growth of China's economy, the nation has developed many trading partners throughout the world.
For most economies worldwide, their leading export and import trading partners in terms of value are typically the United States, European Union (EU) or China. Emerging markets such as Russia, Brazil, India, South Africa, Saudi Arabia, The UAE, Turkey, and Iran are becoming increasingly important as major markets or source countries in various regions.
The 30 largest trade partners of the United States represent 87.9 percent of U.S. exports, and 87.4 percent of U.S. imports as of 2021. These figures do not include services or foreign direct investment.
The Tariff Law, which was approved by China's top legislature after three rounds of deliberations going back to 2022, is the latest addition to Beijing's arsenal of trade defence instruments as it ...
That helped Mexico overtake China in 2021 as the United States’ top two-way trading partner. Still, the United States’ biggest trade deficit, by far, remains with China, in excess of $279 ...
In 1980, the total Sino-African trade volume was US$1 billion. By 1999, it had reached US$6.5 billion. [253] By 2005, the total Sino-African trade had reached US$39.7 billion before it jumped to US$55 billion in 2006, making China the second largest trading partner of Africa after the U.S., which had trade worth US$91 billion with African nations.
The EU and China are each other's largest trading partner as of 2023. [40]: 145 The EU is the PRC's largest trading partner, [1] [2] and the PRC is the EU's largest trade partner. [3] In 2023 China accounted for 9% of EU goods exports and 20% of EU goods imports. [41]
An exclusive Reuters analysis of U.N. trade data from 2015-2021 shows that outside of Mexico, the top U.S. trade partner, China has overtaken the United States in Latin America and widened the gap ...