China accounts for 12% of the global trade growth
The Ministry of Commerce announced that China has become the major locomotive of the global trade growth last year. China accounted for 12% of the global trade growth. This figure showed a 0.3% rise compared to the previous year. China's foreign trade reached $1 trillion in the first eleven months of 2004. This figure increased ten times in the last sixteen years. The World Trade Organization stated that the US spent 20 years to raise its export volume by this much and Germany spent 26 years.