For years, the United States of America dominated global trade. At one time, its commerce with the world was four times larger than China\u2019s. However, the winds have now shifted in Beijing\u2019s favour. Let\u2019s take a closer look at how the global trade crown changed hands<\/p>\n
For decades, the United States was the undisputed king of global trade.<\/p>\n
In the year 2000, total US trade was valued at $2 trillion (Rs 180.24 lakh crore), while China\u2019s total trade was around $474 billion (Rs 42.73 lakh crore). However, Beijing has now leapfrogged Washington as the world\u2019s pre-eminent trading power.<\/p>\n
As of 2024, China\u2019s total trade with the world is estimated at $6.2 trillion (Rs 558.74 lakh crore), while the US\u2019 total trade is valued at $5.3 trillion (Rs 477.64 lakh crore).<\/p>\n
STORY CONTINUES BELOW THIS AD<\/p>\n
Beijing has become the largest trading partner for most countries across Asia, Africa, and South America. According to experts, while tariff and geopolitical tensions may have intensified the shift, this takeover was long in the making.<\/p>\n
But how did China reshape the landscape in a little over two decades? How did Beijing emerge as both a dominant exporter and a heavyweight importer?<\/p>\n
Let\u2019s take a closer look at how the global trade crown changed hands:<\/p>\n
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