China is expected to become the world’s largest exporter
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In the first half of the year, the total value of China's exports was 521.7 billion U.S. dollars, and Germany was 521.6 billion U.S. dollars. Although the report recently released by the National Information Center predicts that the decline in China’s foreign trade exports will slow in the second half of the year, the total value of exports will be US$1.1785 trillion. However, local forecasting institutions believe that China’s forecast is conservative, and believe that China’s exports are expected to turn negative in the fourth quarter.
In the financial crisis, export-oriented companies in both China and Germany have been hit hard, and they are all in a stage of falling back. Experts pointed out that the Sino-German export power struggle is "quality" rather than "quantity." The same as the export-oriented economy, in the composition of Germany's export products, mainly concentrated in the automotive, mechanical and chemical fields, its share and growth rate is far greater than the daily consumption of consumer services. The export of labor-intensive and low-value-added products still occupies an important position in China's exports.