China has announced that the US has overtaken the EU as its top export destination due to the recession in Euroland, while European investment in China has decreased. The European Union was in the lead, but now it's the US,” said the Chinese Commerce Ministry spokesman, adding that ASEAN (Southeast Asian) countries have overtaken Japan, which has dropped to fourth place.
In the January-October period, China's exports to the United States amounted to 289,3 billion dollars compared to 276,8 billion to the EU. The total volume of trade between Beijing and the EU is greater than that with the US, but in the first 10 months of the year trade with the EU fell by 3%, while those with the US rose by 9,1 %.
