How China Overtook The US As The World's Major Trading Partner by 1KIKI

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How China Overtook The US As The World's Major Trading Partner

POSTED BY: 1KIKI
UPDATED: Wednesday, January 29, 2020 01:44
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Saturday, January 25, 2020 2:06 PM

Goodbye, kind world (George Monbiot) - In common with all those generations which have contemplated catastrophe, we appear to be incapable of understanding what confronts us.

How China Overtook The US As The World's Major Trading Partner

https://www.visualcapitalist.com/china-u-s-worlds-trading-partner/

How China Overtook the U.S. As the World’s Trade Partner

In 2018, trade accounted for 59% of global GDP, up nearly 1.5 times since 1980.

Over this timeframe, international trade has transformed significantly—not just in terms of volume and composition, but also in terms of the countries that the rest of the world leans on for their most important trade relationships.

Now, a critical shift is occurring in the landscape, and it may surprise you to learn that China has already usurped the U.S. as the world’s most dominant trading partner.
Trading Places: A Global Shift

Today’s animation comes from the Lowy Institute, and it pulls data from the International Monetary Fund (IMF) database on bilateral trade flows, to determine whether the U.S. or China is a bigger trading partner for each country from 1980 to 2018.

The results are stark: before 2000, the U.S. was at the helm of global trade, as over 80% of countries traded with the U.S. more than they did with China. By 2018, that number had dropped sharply to just 30%, as China swiftly took top position in 128 of 190 countries.

The researchers pinpoint China’s 2001 entry into the World Trade Organization as a major turning point in China’s international trade relationships. The dramatic shift that followed is clearly demonstrated in the visualization above—between 2005 and 2010, a number of countries tipped towards Chinese influence, especially in Africa and Asia.

Over time, China’s dominance has grown dramatically. It’s no wonder then, that China and the U.S. have a contentious trade relationship themselves, as both nations battle it out for first place.
A Tale of Two Economies

The United States and China are competitors in many ways, but to be successful they must rely on each other for mutually beneficial trade. However, it’s also the major issue on which they are struggling to reach a common ground.

The U.S. has been vocal about negotiating more balanced trade agreements with China. In fact, a mid-2018 poll shows that 62% of Americans consider their trade relationship with China to be unfair.

Since 2018, both parties have faced a fraught relationship, imposing major tariffs on consumer and industrial goods—and retaliations are reaching greater and greater heights:

While a delicate truce has been reached at the moment, the trade war has caused a significant drag on global growth, and the World Bank estimates it will continue to have an effect into 2021.

At the same time, China’s sphere of influence continues to grow.
One Belt, One Road, One Trade Direction?

China seems to have a finger in every pie. The nation is financing a flurry of megaprojects across Asia and Africa—but one broader initiative stands above the rest.

China’s “One Belt, One Road” (OBOR) Initiative, planned for a 2049 completion, is advancing at a furious pace. In 2019 alone, Chinese companies signed contracts worth up to $128 billion to start Chinese large-scale infrastructure projects in various countries.

While building new highways and ports abroad is beneficial for Chinese financiers, OBOR is also about creating new markets and trade routes for Chinese goods in Asia. Recent research found that the OBOR program’s infrastructure expansion and logistics performance improvements led to positive effects on China’s exports.

Nevertheless, it’s clear the new infrastructure network is already transforming global trade, possibly cementing China’s position as the world’s major trading partner for years to come.

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Saturday, January 25, 2020 6:30 PM

WISHIMAY

How China Overtook The US As The World's Major Trading Partner

Cheap, expendable, exploitable, people who don't mind eating everything that crawls and spreading disease?

Yeah we should TOTALLY be like that.

Well, I know of a couple people around here that are expendable....

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Saturday, January 25, 2020 6:34 PM

1KIKI

Goodbye, kind world (George Monbiot) - In common with all those generations which have contemplated catastrophe, we appear to be incapable of understanding what confronts us.

Quote:

How China Overtook The US As The World's Major Trading Partner

Cheap, expendable, exploitable, people who don't mind eating everything that crawls and spreading disease?

Yeah we should TOTALLY be like that.

Yep, that's EXACTLY what I posted! And I'm sure if you look hard enough you'll find that! In invisible font that only you can see ...
/not

Hey, WISHY, how about that conversation that Signy and I never had? Yanno, the one only you saw?

Belief is for wimps and mental midgets!

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Saturday, January 25, 2020 9:35 PM

6IXSTRINGJACK

Nilbog is not expendable. Who would make her husband and daughter sandwiches and feed the dog?

Oh.... wait.

Do Right, Be Right. :)

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Tuesday, January 28, 2020 9:57 PM

WISHIMAY

Quote:
Originally posted by 6IXSTRINGJACK:

Oh.... wait.

Sooooomebody is jealoooous. Tired of making yer own sammiches, 6ix?

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Tuesday, January 28, 2020 10:00 PM

WISHIMAY

Quote:
Originally posted by 1KIKI:

Yep, that's EXACTLY what I posted!

Sorry, I scrolled past a Faux News story in my news feed this morning, and that gave me my fill of propaganda for the day.

I guess you'll just have to try to get 6ix to read and comment on it.

Gooood luuuuuck.

Signym and 1Kiki had a conversation last year where they agreed America should give its arms over to RUSSIA...and then deleted it. I wonder what possible motives someone could have to say that???

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Tuesday, January 28, 2020 10:01 PM

1KIKI

Goodbye, kind world (George Monbiot) - In common with all those generations which have contemplated catastrophe, we appear to be incapable of understanding what confronts us.

Hey, WISHY, how about that conversation that Signy and I never had? Yanno, the one only you saw?

Belief is for wimps and mental midgets!

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Tuesday, January 28, 2020 10:09 PM

WISHIMAY

Quote:
Originally posted by 1KIKI:

Hey, WISHY, how about that conversation that Signy and I never had? Yanno, the one only you saw?

I'm NOT the only one that saw it, I'm just the only one who has the time and dedication to tell Putin to go fuck himself every day.

I mean, it's a CHORE some days. Other days I LIVE for it

But EVERY DAY, fighting Commies and Fascists.....WORTH IT.

Signym and 1Kiki had a conversation last year where they agreed America should give its arms over to RUSSIA...and then deleted it. I wonder what possible motives someone could have to say that???

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Tuesday, January 28, 2020 10:12 PM

1KIKI

Goodbye, kind world (George Monbiot) - In common with all those generations which have contemplated catastrophe, we appear to be incapable of understanding what confronts us.

Hey, WISHY, how about that conversation that Signy and I never had? Yanno, the one only you saw?

Belief is for wimps and mental midgets!

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Tuesday, January 28, 2020 11:03 PM

6IXSTRINGJACK

Quote:
Originally posted by WISHIMAY:
Quote:
Originally posted by 6IXSTRINGJACK:

Oh.... wait.

Sooooomebody is jealoooous. Tired of making yer own sammiches, 6ix?

Nope. I don't eat gluten, fatty.

Your shit food isn't welcome in my house.

Do Right, Be Right. :)

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Wednesday, January 29, 2020 12:17 AM

WISHIMAY

Quote:
Originally posted by 6IXSTRINGJACK:

Nope. I don't eat gluten, fatty.

I'd rather be full of flab than full of NOTHING BUT HOT AIR

And I DARE you to take a gluten intolerance test. Oh that's right... you can't afford a Doctor, even though you are a 40 yr old single man.

Way to adult, 6ix

BTW, THEY MAKE GLUTEN FREE BREAD, DUFUS.

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Wednesday, January 29, 2020 1:44 AM

1KIKI

Goodbye, kind world (George Monbiot) - In common with all those generations which have contemplated catastrophe, we appear to be incapable of understanding what confronts us.

Well, you ARE full of bullshit!

Hey, WISHY, how about that conversation that Signy and I never had? Yanno, the one only you saw?

Belief is for wimps and mental midgets!

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