Unic Press UK: The Chinese government has released the data in relation to its trade with other BRICS, viz: Brazil, Russia, India and South Africa. The four countries and China make up BRICS, the New Development Bank jointly funded by these five participants.
Based on the data for 2016 trade, the Chinese maintains a favorable trade balance with India and Russia. The trade balance with Brazil and South Africa was unfavorable.
These five countries that are the founding members of BRICS, the New Development Bank, are home to more than 40% of the world population.
“China in 2016 stood as the largest economy in the world, surpassing the United States in 2014 for the first time in modern history. China became the world’s largest exporter in 2010, and the largest trading nation in 2013”, the CIA wrote on its website.