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China to Become Largest Importer Within Five Years

From iron ore to baby formula, electronic parts to durian that smells like gym socks, China is buying everything you can think of, and that will soon make the world’s biggest exporter the top importer in the next few years.China already takes more imports that the U.S. does from Asia, Africa, Oceania, South America and Eastern Europe, and it will likely snatch the No.1 importer crown from the U.S. within five years if the recovery seen in 2017 continues, CICC economists Liu Liu and Liang Hong wrote in a research note published on Monday.


Its transition from a factory for turning raw materials into exports to a consumer society will increase its economic power even further. China will likely start importing more consumer-related products than industrial materials, as it becomes the largest consumer market in the world, the economists at one of the country’s biggest investment banks wrote.

Source: China Likely to Overtake U.S. as Largest Importer Within 5 Years – Bloomberg [1]

CAC Slips on Brexit Worries [2]

Europe Lower Ahead of PMIs as Brexit Talks Stall [3]


This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam [8]

Senior Market Analyst, UK & EMEA at OANDA [9]
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam
Craig Erlam

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