If China is the world’s second largest economy behind the United States, why its banned from the BRIC group with Brazil, Russia, India and South Africa?
China holds a big boost during the Clinton administration when the People’s Republic received permanent “most favored nation” status with the United States, and thus entry into the World Trade Organization (WTO).
Experts predict China could overtake the U.S. as the world’s largest economy over the next ten years.
Main export products of China
One might assume that this list is long. Top export products include:
Data Processing Equipment: For companies and private organizations that need equipment to calculate, measure and store data, China offers a range of equipment needs.
Medical supplies: Hospitals in the United States, Hong Kong, Japan and take advantage of new innovations in medical equipment in China.
Imports from China
While the U.S. gets most of the export, only about eight percent of total imports in China comes from the U.S.. The main imports from China include:
Oil: China depends on the fuel economy goes, and if not an oil-rich country in comparison with the top nations in this sector, they rely on trade.
Plastics: What China to export their household items and toys came first in the country as a raw material such as plastic.
Chemicals: Necessary for production equipment, chemicals imported by the trading partners of China.
China will overtake the U.S. as the world economy over the next ten years Top?
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