China set to overtake US as largest importer within five years
China is buying everything you can think of, and that will soon make the world's biggest exporter the top importer, economists say
From iron ore to baby formula, electronic parts to durian that smells like gym socks, China is buying everything you can think of, and that will soon make the world’s biggest exporter the top importer in the next few years.
China already takes more imports that the US does from Asia, Africa, Oceania, South America and Eastern Europe, and it will likely snatch the No. 1 importer crown from the US within five years if the recovery seen in 2017 continues, CICC economists Liu Liu and Liang Hong wrote in a research note published on Monday.
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