Comparing The Trade Balance Between Mongolia And China

913 Words Nov 18th, 2014 4 Pages
My topic is about comparing the trade balance between Mongolia and China. First, as a background information, Mongolian economy is dominated by services and agricultural products. Mongolia is the country that has Asia 's richest mineral deposits. Therefore, the Mongolia trade is primarily dominated by products, such as minerals, apparel, livestock, animal products, cashmere, wool or fuel. For Mongolian exports, China has the most percentage that the country imports from Mongolia. Moreover Mongolia depends largely on China for their imports. On the other hand, for China trading information, since they became a member of WTO in 2001, China‘s share in global trade has double increased. For many countries around the world, China is rapidly becoming one of the most important trade partners. China has the largest exporting and importing partner in the world (32 exporting partners and 34 importing partners in year 2011). China economy is heavily reliant on exporting electrical and other machinery, including data processing equipment, apparel, radio telephone handsets, textiles or integrated circuits. In addition, United States is the country that China exports most and there are only few different rates between importing partners for China. Japan has the largest percent of total imports (9.8%), South Korea which is the second has 9.3 and U.S. has 7.3 percent. Therefore, my essay is mainly about the trade balance of each country in certain period time and major importing and…
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