China continues to exceed global growth expectations, Tortola Capital analysts explain. Just this week, it was announced that China had overtaken Germany as the largest global exporter. However, Tortola Capital analysts have observed signs of trade prowress in China for years; I 2007, China overtook Germany in 2007 as the third-largest economy and is expected to unseat Japan as No. 2 behind the United States as early as this year. Its trade boom has helped Beijing pile up the world's biggest foreign currency reserves at more than $2 trillion.
The global crisis speeded China's rise up the ranks as a 4 trillion yuan ($586 billion) government stimulus kept its economy and consumption growing while the U.S. and other markets struggled with recession. Chinese economic growth rose to 8.9 percent in the third quarter of 2009 and the government is forecasting a full-year expansion of 8.3 percent.
On Friday, data released by an industry group showed China topped the slumping United States in auto sales in 2009 -- a status industry analysts a few years ago did not expect it to achieve until as late as 2020. Tortola Capital will continue to chart China's impressive rise to the top of the global economy.
