China unseats Germany as top exporting nation

China last year eclipsed Germany as the world’s top exporting nation. According to the Washington Post, China achieved the top ranking because its exports fell only 16%, while Germany's exports fell more steeply. China's customs agency figures put total exports last year at more than $1.2 trillion, slightly ahead of the $1.17 trillion forecast for Germany by its foreign trade organisation, the Federation of German Wholesale and Foreign Trade. According to the report, China is expected to surpass Japan to become the world's second-biggest economy this year. It is already the world's biggest automobile market, and largest steel producer.