U.S. Steals China’s #1 Spot In Critical Global Ranking
(AmericanProsperity.com) – China and the United States have been economic competitors for some time. China has quickly climbed to the world’s second-largest economy, following only the US. Recent findings indicate the United States may increase the gap between the two economies as it takes over as India’s top trading partner, overtaking China.
— Chris 🇺🇸 (@Chris_1791) June 1, 2022
The South China Morning Post (SCMP) originally reported on the revelation, urging its home country to deepen its ties with the Association of Southeast Asian Nations. The SCMP mentioned that while trade relations between India and China came out to $115.4 billion for the 2021-2022 financial year ending in March, US-India trade reached $119.4 billion in value.
The outlet mentioned the import and export figure between the countries, noting that while India’s import of Chinese goods, namely machines and electronics, grew by about 44.4%, the country’s exports to China only rose by 0.3%. Meanwhile, India’s exports to the United States saw an increase of 47.4% and its import of US goods jumped 50%.
China and India, the world’s two most populous countries, have enjoyed substantial trade over the past decade. Even so, the US has slipped into the top spot a couple of times in recent years. Will this trend continue, or will China eventually regain its position as India’s top trading partner in the future?
~Here’s to Your Prosperity!
Copyright 2022, AmericanProsperity.com