China has surpassed the US to become the world's biggest trading nation last year as measured by the sum of exports and imports of goods, a milestone in the Asian nation’s challenge to the US dominance in global commerce that emerged after the end of World War II.
US exports and imports of goods last year totaled $3.8 trillion, the US commerce department said last week. China’s customs administration reported last month that the country’s total trade in goods in 2012 amounted to $3.9 trillion.
China’s increasing influence threatens to disrupt regional trading blocs, said Goldman Sachs Group Inc’s Jim O’Neill.
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