When China's economic reforms began in 1978, it was contributing about 1 percent of the world's trade. In the next three decades, the Chinese economy grew at almost a consistent 10 percent annually — three times the global average. In 2009, China contributed to 8 percent of world trade.
More about the Chinese economy:
- If the Chinese and United States economies continue to perform as expected, by 2027, the size of the Chinese economy will have surpassed that of the U.S. economy.
- The U.S. owes China approximately $9 billion U.S. Dollars. Fears that China will suddenly call in the debt are considered unfounded, though, because it would end up undercutting China's own economy, which is becoming increasingly dependent on the U.S. economy.
- China is the world's largest exporter of communications technology. Its biggest exports to the U.S. are electronics, power generators, clothing, toys and games.
More Info: www.uschina.org
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