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China Overtakes U.S. as World's Top ConsumerVerfasst am: 18.02.2005 08:03
|China Overtakes U.S. as World's Top Consumer
China has replaced the United States as the world's top consumer, eclipsing the world's richest economy in consumption of four of the five basics in food, energy and industrial commodities. Growing at a rapid rate, China has taken the lion's share in the consumption of grain, meat, coal and steel, and loses out to the United States only in oil among the five basic commodities, according to the Washington-based Earth Policy Institute.
In another key area, fertilizer, China's use is double that of the United States while among television sets, refrigerators and cellular phones the world's most populous nation is way ahead. Among leading consumer products, China trails the United States only in automobiles, the institute said in a report.
It will only be a matter of time before China, the world's most populous nation, overtakes the United States in the use of personal computers.
China's eclipse of the United States as a consumer nation should be seen as another milestone along the path of its evolution as a world economic leader, Lester Brown, the institute's president, told reporters. China is no longer just a developing country, he said. It is an emerging economic superpower, one that is writing economic history, said Brown.