GERMANY - Biggest Trading Partner Is Now China
China for the first time became Germany’s most important trading partner in 2016, overtaking the United States, which fell back to third place behind France, data showed.
The development is good news for the German government, which has made it a goal to safeguard global free trade after U.S. President Donald Trump threatened to impose tariffs on imports and his top adviser on trade accused Germany of exploiting a weak euro to boost exports.
Neighboring France remained the second-most important business partner with a combined trade volume of 167 billion euros. The United States came in third with 165 billion euros.
Britain accounted also for the biggest bi-lateral trade surplus: Exports surpassed imports from Britain by more than 50 billion euros, the figures showed.
The figures are likely to fuel the debate about Germany’s export performance, its trade surplus and global economic imbalances ahead of a meeting of G20 finance ministers and central bank governors in Baden-Baden.
-reuters.com, 24 February 2017
The old saying, “Go West, young man” is now changing direction: go East. Asia holds the world’s largest population among the continents, at 4.436 billion people. That’s almost 60% of the earth’s population. Asia, under the economic leadership of China and Japan, is a proponent of free trade, and so is Europe.
Biblically speaking, the closer unity of the nations of the world is the prophetic guideline we have in Holy Scripture, which will climax in the fulfillment of Revelation 13:8: “And all that dwell upon the earth shall worship him, whose names are not written in the book of life of the Lamb slain from the foundation of the world.” Unity, at any cost, is the future of planet earth.