China became the biggest trader in goods for the first time last year, overtaking the US for all of 2013 and finishing the year with record trade figures in December.
Coming fast on the heels of China taking over as the largest oil importer, the shift is another milestone as the country takes its place among the most powerful nations. Trade with the rest of Asia and increasing flows with the Middle East represent a shift in power away from the US, the largest economy.
The total value of China’s imports and exports in 2013 was $4.16tn, a 7.6 per cent increase from a year earlier on a renminbi-adjusted basis, according to figures released by the Chinese government on last friday.
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