Business

AP IMPACT: China overtaking US as global trader

By Joe McDonald, Youkyung Lee
Published December 2, 2012 5:00am ET
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AP IMPACT: China overtaking US as global trader
In this July 14, 2012 photo, a worker opens a portable silo bag to load into a truck to be transported for sale at a farm near Pergamino, Argentina. China is the leading buyer of Argentine soybeans, with most of the country's fertile land nowadays covered with the crop, its principal export. As Chinese ate more pork, fried chicken and hamburgers, increasing the demand for soybeans to make cooking oil and feed for pigs and cows, cattle ranchers in Latin America turned grazing land into fields of soy, a crop few in their region consume. (AP Photo/Natacha Pisarenko) | Natacha Pisarenko

SEOUL, South Korea (AP) — Shin Cheol-soo no longer sees his future in the United States.

The South Korean businessman supplied components to American automakers for a decade. But this year, he uprooted his family from Detroit and moved home to focus on selling to the new economic superpower: China.

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