Sorry, America: China is now Europe's biggest trading partner for goods
CNN
Europe is now trading more goods with China than the United States, a sign of how the pandemic is transforming the global economy.
Data released this week by the European Union's statistics service attributed the shift to a 5.6% increase in imports from China in 2020 and a 2.2% increase in exports. Meanwhile, there was a "significant drop" in trade with the United States, with imports plunging 13.2% and exports falling 8.2%. The overall value of EU-China goods trade last year was €586 billion ($706 billion), about €31 billion ($37 billion) more than between the European Union and the United States. China's economy expanded 2.3% last year as it raced to recover from the pandemic, while the United States saw output shrink 3.5%. That allowed China, the world's second largest economy, to increase its clout.
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