Not only cheap toys have a ‘Made in China ‘ sticker on them anymore. The real superpower behind keeping prices low while the price of OIL skyrockets and petrol stations in Cape town run out of fuel.
China trumped the US in 2004 as the world’s leading exporter of high-tech goods like laptop computers, mobile phones and digital cameras, the Organisation for Economic Cooperation and Development (OECD) said yesterday.
Official data from the Paris-based OECD highlighted how fast the country, still Communist Party-controlled, has emerged as an economic power that the US and other long-industrialised countries can no longer ignore.
China exported $180 billion worth of ICT goods in 2004, compared with US exports of $149 billion, the OECD, a free-market organisation whose 30-country membership does not include China, said.
China was likely to have kept the newly conquered top spot in 2005 too, but hard proof would take many months to collect, OECD officials said.
The US was world leader in 2003 with $137 billion of exports of ICT goods, which include video equipment and electronic components, followed by China with $123 billion, the OECD said.