Since China’s legendary President Deng Xiaoping led China from a wallowing third world giant into the world’s runnerup economy (right behind the U.S.), a short 35 years ago, the world of export/import trade has increasingly depended on the miraculous China growth factor.
This has been especially true as China’s once negligible gross domestic product has increasingly neared the mighty U.S. economic colossus. China’s estimated $9 trillion annual GDP is even more impressive, when considering its purchasing power parity would bring it much closer to America’s near $18 trillion historic world economic lead.
But while China’s once legendary economic growth, transforming its once agrarian population to one that is more urbanized, increasing its labor management costs, as well as its status from underdeveloped to now nearly developed, has also shifted its once top-heavy world export leadership into a more Westernized lifestyle.
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