China's economy was once a world unto itself. We possess all things, the Qianlong emperor boasted to British visitors in 1793, and set no value on objects strange or ingenious. It is, therefore, remarkable that China last year eclipsed America as the world's biggest trader. New figures show that America's imports and exports of goods amounted to $3.82 trillion in 2012, compared with China's $3.87 trillion (see chart). These figures count only trade in objects (ingenious or mundane). If services are added, America retains its lead for the moment. Tax dodges may also inflate China's numbers, but its trade networks are spreading. The Associated Press says 124 countries count China as their leading trade partner. The Qianlong emperor claimed, somewhat optimistically, that his dynasty's majestic virtue had penetrated every country under heaven. China's exporters and importers have now accomplished exactly that.
Source: http://www.economist.com/news/china/21571948-trade-world?fsrc=scn/tw/te/pe/tradewiththeworld
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