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China's run as world's largest exporter may end, expert says

Press Trust of India  |  Beijing 

China, the world's largest exporter, might face a trade deficit in the next five to 10 years as the second-biggest is ramping up imports, a former top Chinese has said.

could no longer rely on to expand its as it had done over the past 30 years, said Zhang Yansheng, former at the

This is because became unsustainable and would put too much strain on ties with the rest of the world, specially as protectionism grew, he said

"The next stage is an open that focuses on a balance of trade," Zhang told Hong Kong-based South Morning Post.

"Expanding is a very significant part of becoming a big global power," he said.

China's export and import volumes rose 14.2 per cent year on year to 27.79 trillion yuan (USD 4.28 trillion) last year, ending the continuous drop in the previous two years, according to the data quoted by state-run Xinhua agency.

China's increased 10.8 per cent to reach 15.33 trillion yuan while surged 18.7 per cent to 12.46 trillion yuan in 2017, the (GAC) said.

The trade surplus continued to narrow last year, shrinking 14.2 per cent to 2.87 trillion yuan, compared to a reduction of 9.1 per cent registered in 2016 that saw 3.35 trillion yuan in trade surplus.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, January 13 2018. 17:20 IST