China’s economy grew from 1% of world trade in 1978 to 8% in 2009. It is predicted to exceed the US economy by 2027, but fears of China recalling debt are unfounded as it would harm its own economy. China is the world’s largest exporter of communications technology and major exports to the US include electronics, power generators, clothing, toys, and games.
When China’s economic reforms began in 1978, it accounted for about 1 percent of world trade. Over the next three decades, China’s economy grew by nearly 10% annually, three times the global average. In 2009, China contributed 8% of world trade.
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If the Chinese and US economies continue to function as planned, by 2027 the size of the Chinese economy will have exceeded that of the US economy.
The United States owes China about 9 billion US dollars. Fears that China will suddenly recall debt are considered unfounded, however, because they would eventually undermine China’s own economy, which is becoming increasingly dependent on the US economy.
China is the world’s largest exporter of communications technology. Its major exports to the United States are electronics, power generators, clothing, toys and games.
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