 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
China's Trade To Overtake Germany's By 2008: Vice Minister
Beijing (AFP) Nov 22, 2005 China will overtake Germany to become the world's second largest trading country in 2008 if foreign trade maintains a 15 percent annual growth rate, Vice Minister of Commerce Gao Hucheng said. In a speech at Beijing University Monday, Gao predicted China would also likely replace the United States as the world's top trading country sometime between 2015 and 2020, the official Xinhua news agency reported on Tuesday. Gao said China's Gross Domestic Product (GDP) will reach 15 trillion yuan (1.8 trillion dollars) this year, ranking the economy sixth in the world. By the end of the year, China's foreign exchange reserves will reach 800 billion dollars. China's total foreign trade is expected to top 1.4 trillion billion dollars this year, up 20 percent from 2004, with exports growing 26 percent and imports around 18 percent, Gai said, citing ministry reports. Xinhua gave no other details about Gao's forecasts on China overtaking Germany and the United States. The Organization for Economic Cooperation and Development (OECD) said in September that China's economic growth rate had averaged 9.5 percent over the past two decades and "seems likely to continue at that pace for some time." The OECD "China Economic Survey" said China could have the world's fourth largest economy five years from now. The current top four economies, according to OECD data, are the United States, Japan, Germany and France. "Many industries have become completely integrated into the world's supply chain and, on current trends, China could become the largest exporter in the world by the beginning of the next decade," the OECD report said. Community Email This Article Comment On This Article Related Links SpaceDaily Search SpaceDaily Subscribe To SpaceDaily Express The Economy
China To Auction Another 20,000 Tonnes Of Copper Next Week
Beijing (AFP) Nov 23, 2005China will auction another 20,000 tonnes of its copper reserves next week, the government said Wednesday, amid market speculation that the sell-off is aimed at limiting the damage from speculative trade deals. |
|
|
| The content herein, unless otherwise known to be public domain, are Copyright 1995-2006 - SpaceDaily.AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA PortalReports are copyright European Space Agency. All NASA sourced material is public domain. Additionalcopyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement |
