HSBC: China will overtake the U.S. as the largest trading nation

February 21, 2012

HSBC: China will overtake the U.S. as the largest trading nation

The HSBC Group recently released a trading outlook report by the trade within the Asia-Pacific region and emerging markets, large demand for Asian exports, China will replace the U.S. in 2016 to become the world's largest trading nation.

The HSBC Group HSBC Global Connection Trade Outlook is expected in the next five years, the annual growth rate of China's trade (6.61%) will be twice the global average (3.78%).

The report analyzes China's growth was mainly domestic trade from the Asia-Pacific region and Latin America, Middle East and North Africa region "South-South trade, especially commodities and raw materials (Commodities) and automotive industries.

Reported that the impact of the debt crisis in Europe, the Western consumer market growth is expected to slow.

As the world's second largest economy, China will continue through the financial stimulus plan and accelerate infrastructure construction to stimulate the growth of Chinese imports of raw materials from Latin America and the Middle East will also increase.

The report also predicted that global trade will be accelerated growth from 2014, 2015 2016.

Advance recovery of the WIZ boom in emerging markets, HSBC predicts that the rapid growth of global trade point in time by amendment in 2015, and gradually widening gap in the next 15 years, the report also predicted that mainland China will replace the U.S. in 2016 the world's largest trading nation.

Michael Kwong (Simon Constantinides), the regional head of HSBC Asia Pacific, Global Trade, said in an interview, the world's largest enterprise continues to expand in Asia Pacific supply chain, integration of production processes, and thus will drive the growth of trade.

As China continues to expand the world market, especially in the areas of South America, Africa, and its high energy demand and manufacturing output will vigorously promote the import and export of related industries.

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