China’s new trade front with the world – services
The country is rapidly moving up the global ranks as an exporter of knowledge-intensive products
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NO NATION in the world exports as much merchandise as China. But having conquered global trade in goods, it is now rapidly moving up the international ranks as a leading exporter of knowledge-intensive services.
China’s new trade front with the world is the export of services such as information and communication technology (ICT), construction management, engineering services, data analytics, and research and development. And to a lesser degree, financial services and intellectual property rights.
Based on data from the World Trade Organization, China already ranks as the world’s sixth-largest exporter of digitally delivered services, up from 17th place in 2005.
