China is Biggest Trading Partner to EU

China is the biggest EU trading partner. You will also see in the statistics that imports into China is growing while exports to China is a lower number. The deals are may be considered mutually beneficial but defiantly more beneficial to China. China also grew during COVID while the U.S. economy shrunk. 

You will also notice that while China, U.S. and EU are the world's largest trading partner that China GDP with PPP multiplier is 16.4% and the U.S. 16.3%. That means China has a larger economy but not well distributed in terms of real wealth for people. The U.S. is much larger in terms of GDP per Capita.

It might be helpful for the U.S. to think about doing things in new ways. COVID and the digital world could be a serious game changer the U.S. if it capitalizes on opportunities. We must consider the possibility that new economic models should help the U.S. rejuvenate on our existing strengths to better master the economic supply chains of tomorrow. 

There are probably lots of great ideas out there. Mine is based off research on economic clusters and the transactions between firms that develop innovation. The big question is how do we build new clusters and power them with investments so they innovate quickly to create a sustainable economy. You can read about some of my ideas HERE. 👀

       

China and EU Trading 2020