Slowly but inevitably, China is heading to its target. Although the nation has some difficulties in showing stable economic growth, it can be rightfully called the absolute champion of free trade. As of 2013, the total volume of imports and exports topped the corresponding indicator of the USA and totaled $4.16 trillion. The record figure signifies that China may soon become the first mega-trader since colonial Britain. “China is a true mega-trader – a position last held by colonial Britain, with trade significant not only as a share of world trade (11.5%) but also of its own GDP (47%),” Madhur Jha, an economist at Standard Chartered, told. Making the sheer part of the Chinese exports, the United States is the most profitable export destination. On the flip side, the fastest growing corridor with Latin America has increased more than 200 times since 1999. According to conservation of energy, China’s trade with Europe has slowed down - in 2007 exports totaled 35% of GDP, while in 2012 this indicator dropped to 25%. Meanwhile, the analysts do not think the figure is worrisome. The two-digit level of exports to Latin America and Africa easily compensate for this decline. In case the tendency is preserved, China will likely be the champion of free trade with developed countries driving global demand, key role of China in global supply chains, and structural reforms and changes made by the government. It is widely expected that China’s trading volumes will increase. For example, Chartered analysts expect China’s trading volumes to double in size by 2020.
