GENEVA — Emerging countries, led by China, are forecast to overtake the U.S. and other developed nations as the world’s biggest exporters of manufactured goods, if the global economy works toward a path of further trade liberalization, according to the World Trade Organization’s “2013 World Trade Report.”
Under this outlook, international trade in manufactured products, which includes textiles and apparel, are expected “to account for over two-thirds of world exports and to increase by a factor of almost 4.5 in volume by 2035,” the WTO forecasts. In this outlook, China would capture 29 percent of global exports in the broad sector, up from 19 percent in 2012, while the U.S. would see its share erode to 8 percent from 16 percent last year, and the European Union would account for 11 percent, down from 20 percent in 2012.
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