In World Trade, China Edges Out The U.S.

“The U.S. is no longer number one in world trade.  That title now belongs toChina, with ramifications down the road for the dollar as go-to currency for the pricing of tradable goods.

Bloomberg reported on the numbers from Beijing on Monday, Feb. 11, noting that U.S. exports and imports of goods last year totaled $3.82 trillion, according to the U.S. Commerce Department. Meanwhile, China’s customs administration reported last month that the country’s total trade in goods in 2012 amounted to $3.87 trillion, just barely toppling the U.S. off its pedestal.

China’s increasing influence threatens to disrupt regional trading blocs as it becomes the most important commercial partner for countries not only in Europe, but also far away in places like Brazil, where the U.S. has played second fiddle now for more than three years running….”

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