Friday, June 22, 2012

China, the WTO, and the automoible exports

Hi folks -- Recently I have been listening to the English language "China Drive" radio show in the morning before I go to school. This morning there was a report that contained an interesting statistic: in 2000, when China joined the World Trade Organization, it exported a total of 15,000 cars; last year that number was 556,000 vehicles! Certainly by joining the WTO, the country was not hurt in terms of its automobile industry. In terms of imports, it has a 25% tariff, pretty high in terms of protectionism. So you just have to make your cars for that market in China!

Top ten destination countries of China 2008 automotive exports by value:
Country Value
U.S. $9.406 billion
Japan $4.533 billion
Russia $2.133 billion
Korea $1.916 billion
Germany $1.490 billion
Iran $1.220 billion
UAE $1.219 billion
Nigeria $1.165 billion
Brazil $1.113 billion
Italy $1.013 billion

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