Nowhere in the global economy today is China more of a force than in the world of trade. That fact alone seems destined to propel the march of the renminbi, once considered an exotic currency, further into the mainstream.
China is now the largest exporter by some margin. Economists at the World Trade Organisation predict that its exports will account for more than 14 per cent of the value of goods exported around the globe by year-end, up from a little over 6 per cent a decade ago.
China is also on course to topple the US from its perch as the biggest importer, and accounted for just over 10 per cent of the value of imports around the world this year.
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