China passes US as top Japanese export buyer, topping 20%

[xizhimen]

China passes US as top Japanese export buyer, topping 20%​

Cars and cardboard drive gains, even as some companies warn on overreliance

A container ship sits at a port in Shenzhen. Last year, China replaced the U.S. as Japan's largest trading partner. © Reuters

Nikkei staff writers
January 22, 2021 07:32 JST

China took in 15.08 trillion yen ($146 billion) worth of Japanese goods in 2020, according to preliminary data released Thursday by Japan's Ministry of Finance, leapfrogging the U.S. to become Japan's leading destination for exports for the first time in two years.

China passes US as top Japanese export buyer, topping 20%

Cars and cardboard drive gains, even as some companies warn on overreliance

asia.nikkei.com

 

[xizhimen]

US may win in a lip service war, but in the global trading war, US lost all its allies to China, EU, Japan, Korea, India, Australia, Israel... and non allies like Africa, Latin America, SEAN, Gulf Arab nations.

US is still Canada's biggest trading partner, hopefully US can still hold this title for some time.

 

[Nilgiri]

When service trade is included (at it should be given the immense role in world economy in trade)...US shares greater/greatest trade relationship with many (incl EU, India, developed countries in general and many others).

 

[xizhimen]

What's the international standard on bilateral trade , goods or goods+service?

 

[Nilgiri]

Trade: the action of buying and selling goods and services.

"Trade involves the transfer of goods or services from one person or entity to another, often in exchange for money. Economists refer to a system or network that allows trade as a market."

Let me know if you find a definition that says only goods.

 

[xizhimen]

Trade: the action of buying and selling goods and services.

"Trade involves the transfer of goods or services from one person or entity to another, often in exchange for money. Economists refer to a system or network that allows trade as a market."

Let me know if you find a definition that says only goods.

I mean the international standard when reporting bilateral trade, of course trade comes in many forms.

 

[Nilgiri]

If you find an official "international standard" in reporting this data...I'd like to see it....as there is no international agreement on reporting and journalism....but there is definitely an accepted definition of what trade is.

WTO, World Bank etc...all define and report trade as both goods and services.....since both effectively involve the exchange of money for labour+resource provided (i.e capital inputs).

Including both goods and services is the more accurate number as that is the definition of trade.

Reporting just one of the two would be a component (of note) to the total.

Same thing in investment, either totals can be reported or certain components (of note).

 

[Raptor]

Congrats