China and global trade: the facts

Socialist Resistance no29 | page 19

This is scanned newsprint, not web text. The original PDFs carried no text layer at all, so every word here was read off the page by OCR. Expect dropped opening letters, run-together words and wrong characters. There was no contents page to cut the paper up by, so the articles were found from the size of their headlines: a headline may carry its kicker, and where an article ran beside a boxed panel a few lines of the neighbour can appear. The scanned issue is the authority; this text is here so the words can be found at all.

IN THE PAST quarter century China's share of global income has risen from five percent to 14 percent.

Its economy has been growing at an average rate of nine per cent for at least 20 years.

China has attracted huge foreign direct investment flows with inflows totalling $60 billion for last year alone.

During the 1990s China accounted for around 10-12 per cent of global foreign direct investment (FDI).

China already accounts for six per cent of world trade.

By 2010, according to projections by the Organisation for Economic Cooperation and Development (OECD) China's share of global trade is on course to reach 10 per cent, overtaking the US. Hong Kong skyline: Exports to China have helped to keep economies like those of Japan and South Korea afloat