China has surpassed the United States to become Korea's largest export destination, thanks to increased exports of IT products such as semiconductors and displays, the Ministry of Trade, Industry and Energy said Saturday.
It’s about damn time. They should have already been the largest export market for at least the past couple decades, their economy is huge and they’re right next door. The US, while also a huge economy, is on the opposite side of the planet! Absurd.
It makes sense, though. Sure, China has a big economy, but what was that economy importing in the past? I would wager it was mostly inputs for manufacturing, which really doesn’t match South Korea. But with a growing middle class, there is more of a domestic market that would fuel imports of things like SK’s top export, electronics.
It’s about damn time. They should have already been the largest export market for at least the past couple decades, their economy is huge and they’re right next door. The US, while also a huge economy, is on the opposite side of the planet! Absurd.
It makes sense, though. Sure, China has a big economy, but what was that economy importing in the past? I would wager it was mostly inputs for manufacturing, which really doesn’t match South Korea. But with a growing middle class, there is more of a domestic market that would fuel imports of things like SK’s top export, electronics.