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China has become the world's second largest economy by GDP (Nominal) and largest by GDP (PPP). 'China developed a network of economic relations with both industrial economies and those constituting the semi-periphery and periphery of the world system.' [1] Due to the rapid growth of China's economy, the nation has developed many trading partners throughout the world.
For most economies worldwide, their leading export and import trading partners in terms of value are typically the United States, the European Union (EU) or China. Emerging markets such as Russia, Brazil, India, South Africa, Saudi Arabia, the UAE, Turkey, and Iran are becoming increasingly important as major markets or source countries in various regions.
The 30 largest trade partners of the United States represent 87.9 percent of U.S. exports, and 87.4 percent of U.S. imports as of 2021. These figures do not include services or foreign direct investment.
The Tariff Law, which was approved by China's top legislature after three rounds of deliberations going back to 2022, is the latest addition to Beijing's arsenal of trade defence instruments as it ...
That helped Mexico overtake China in 2021 as the United States’ top two-way trading partner. Still, the United States’ biggest trade deficit, by far, remains with China, in excess of $279 ...
The EU and China are each other's largest trading partner as of 2023. [40]: 145 The EU is the PRC's largest trading partner, [1] [2] and the PRC is the EU's largest trade partner. [3] In 2023 China accounted for 9% of EU goods exports and 20% of EU goods imports. [41]