China's latest trade figures show it is "very likely" to have overtaken the US as the world's largest trader.


It would topple the position that the US has held for much of the last century.


For some, it is perhaps surprising that China didn't already hold this position.


China sought to join global production chains by opening up special economic zones that were essentially export-processing zones.


By attracting foreign direct investment into those zones to utilize its cheap and plentiful labor, China was able to gain export expertise while protecting its domestic market.


This is the origin of the imbalance between exports and imports in China, since imports were restricted into the internal market while exports were promoted.





http://www.bbc.co.uk/news/business-25682149