China Becomes World's Top Exporter - What It Means for China and the Rest of the World

“Over the weekend, China became the world’s number one exporter, passing Germany, the longtime holder of the crown. While this passing of the guard is largely symbolic, it is made more interesting by both China’s other recent global milestones (biggest auto market and third largest economy), and its seeming ascendance to the heights of global power in the midst of the global financial crisis. Going forward it will be important to see how these factors impact China’s actions in the international arena. Some would suggest we’ve recently seen a much more assertive China, whether at the G20 or Copenhagen meetings.  While the jury is still out, the question remains with what impact,” says Michael Kulma, Asia Society’s Director of Policy Initiatives.

“Reports that China has become the world’s largest exporter will cause celebration in China and consternation in exporting countries around the world,” says Asia Society Executive Vice President Jamie Metzl. “The developed world has welcomed China with open arms as an economic partner and driver of global growth. As China continues to grab global market share and out-compete low-end exporting nations based in part on currency manipulation and control, the world’s ire will continue to rise. At some point, sooner rather than later, global anger at jobs shifting to China based on this unfair advantage will reach a boiling point. With the news of China’s continued export growth, the clock is ticking ever faster towards that outcome.”

Mike and Jamie are both based in New York. To arrange an interview, please contact the Asia Society communications department at 212-327-9271 or [email protected].