China denies it is world’s biggest trader despite data showing it passed US last year

China has a new status its government doesn’t want — world’s biggest trader.

Official Chinese and American trade data indicates China passed the United States last year in total imports and exports by a margin of $3.866 trillion to $3.822 trillion. That is about $44 billion, or just over 1 percent of China’s total.

The Commerce Ministry has taken the unusual step of publicly denying China is the new No. 1. It says China still trailed the U.S. by $15.6 billion last year — or a razor-thin 0.3 percent — under World Trade Organization standards for valuing goods.

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Associated Press via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/ESDxkSlD95E/