Since World War II, America has been the world’s biggest trading
nation. Last year, according to official figures, China has
surpassed the United States by one measurement, the exports and
imports of goods. China has reported that its total combined
trade in goods with other nations is $3.87 trillion; according
to the US Commerce Department, America‘s numbers for the same
thing was slightly less at $3.82 trillion. The US economy
remains the largest in the world by a wide margin. When services
are included, America has a trade total of nearly $5 trillion.
Also, America’s gross domestic product is more than twice the
size of China’s. Given the difference in population size,
Americans remain much wealthier than their Chinese counterparts.
However, it cannot be denied that recently the United States has
lost ground vis a vis China and can expect to continue this
trend. After World War II, America virtually forced the rest of
the world, thanks to our pre-eminent military and economic
force, to dismantle much of th