GUANGZHOU, China: Claiming a projected US$2.1 trillion (€1.54tr; £1.05tr) in foreign trade in 2007, the People's Paradise will this year replace Germany as the globe's second largest trading nation, according to Li Yushi, vp of the Research Institute of International Trade and Economic Cooperation.

If this performance is sustained, says the researcher, China will in 2010 supplant the USA as world numero uno by trading volume. And - some believe - militarily.

Yushi told a seminar on foreign trade prospects: "China maintained a growth rate of more than 20% foreign trade in the first quarter and is likely to maintain the momentum throughout the year.

"Based on these predictions," he said, "we can tell that China will overtake the United States to be the world's largest trader in 2010."

More on Friday's Story ...

  • China Overtakes US as Japan's Top Trading Partner
    Following WARC News' story of 27 April (headlined above) our attention has been drawn to an article of notable prescience that appeared back in November 2002 in UK current affairs review Prospect Magazine.

    Its subject is the existence of a low-key but potent economic/geopolitical alliance between China and Japan. It also posits that in 2002 Japanese leaders were already planning for the day when China becomes the world's most powerful economy.

    Read now, with the benefit of 20/20 hindsight, its content will interest those marketing and advertising professionals who believe their business extends beyond the ethos of the 30-second commercial.

    With the permission of - and due acknowledgments to - the publishers of Prospect Magazine, WARC News readers can access the article by clicking here.

    Data sourced from People's Daily Online (China); additional content by WARC staff