It's China's Century So Far? True That
The U.S. is no longer number one in world trade. China now owns that strap, and that looks even worse for the dollar as the key currency for the pricing of tradable goods. U.S. exports and imports of goods last year totaled $3.82 trillion, according to the U.S. Commerce Department. Meanwhile, China’s customs administration reported last month that the country’s total trade in goods in 2012 amounted to $3.87 trillion, just barely toppling the U.S. off its pedestal.