Animated Chart: 40 Years of Soaring Exports in China
China has the second highest GDP in the world, and it exports 15% of all the world’s goods. But how did this come to be?
A mere 40 years ago, China’s economy was in an entirely different situation, making up less than 1% of global exports and still in the infancy stages of building its economy. The above animated chart from the UNCTAD showcases China’s rise to global trade dominance over time.
Timeline: The Rise to Power
The China of the mid-20th century looks remarkably different when compared to the modern-day nation. Prior to the 1980s, China was going through a period of social upheaval, poverty, and dictatorship under Mao Zedong.
Beginning in the late 1970s, China’s share of global exports stood at less than 1%. The country had few trade hubs and little industry. In 1979, for example, Shenzhen was a city of just around 30,000 inhabitants.
In fact, China (excluding Taiwan* and Hong Kong) did not even show up in the top 10 global exporters until 1997 when it hit a 3.3% share of global exports.
|Year||Share of Global Exports||Rank|
*Editor’s note: The above data comes from the UN, which lists Taiwan as a separate region of China for political reasons.
In the 1980s, several cities and regions, like the Pearl River Delta, were designated as Special Economic Zones. These SEZs had tax incentives that worked to attract foreign investment.
Additionally, in 1989, the Coastal Development Strategy was implemented to use strategic regions along the country’s coast as catalysts for economic development.
The 1990s and Onwards
By the 1990s, the world saw the rise of global value chains and transnational production lines, with China offering a cheap manufacturing hub due to low labor costs.
Rounding out the ‘90s, the Western Development Strategy was implemented in 1999, dubbed the “Open Up the West” program. This program worked to build up infrastructure and education to retain talent in China’s economy, with the goal of attracting further foreign investment.
Finally, China officially joined the World Trade Organization in 2001 which allowed the country to progress full steam ahead.
Made in China
Today China is a trade giant and manufacturing behemoth. Only the U.S. and Germany come close to its share of global exports, sitting at 8.1% and 7.8% respectively.
|Rank||Country||Share of Global Exports (2020)|
|#6||🇭🇰 Hong Kong SAR||3.1%|
|#7||🇰🇷 South Korea||2.9%|
China’s manufacturing industry has become dominant in producing just about anything from commonplace household items to integral pieces in automotive manufacturing. Some staples of Chinese manufacturing are:
- Precision instruments
- Industrial machinery for computers and smartphones
COVID-19 made China’s integral role in the global economy even more visceral, as major delays in the supply chain occurred when the virus hit the country.
An Economic Superpower
In 2021, China’s trade recovery from the crisis has bested most other countries—in Q1 2021, its exports grew by almost 50% compared to the previous year’s quarter, to around $710 billion.
And the country is not slowing down any time soon. Further plans for economic development are well under way, like Made in China 2025, with the goal of becoming a dominant player in global high-tech manufacturing. Additionally, the famous One Belt, One Road initiative has been funding infrastructure projects globally over the past decade, and the country is also a founding member of the RCEP—which is soon to be the world’s biggest trading bloc.
However, China still faces a series of challenges, such as:
- Population decline
- The onset of labor saving technology
- Trade wars with U.S. and sanctions from other trade partners, like Europe
- The emergence of ASEAN trade powers, like Vietnam
A declining population has many implications like a shrinking workforce and domestic market. Additionally, many companies are setting up shop in less costly manufacturing hubs like Vietnam.
Furthermore, inexpensive innovations in labor-saving technologies, such as robotics and automation, have already begun to undermine the cheap manual labor that has made China the world’s manufacturer.
All of these elements and more could potentially spell a slowing of growth in China’s export dominance. However, while the future for China may not be certain, currently, global trade and production could not function without it.
The Best Selling Vehicles in America, By State
From Fords in the Midwest to Toyotas on the coasts, here are the best selling vehicles in America, visualized by state.
The Best Selling Vehicles in America, By State
From Ford trucks in the Midwest to Toyotas on the coasts, the best selling vehicles in America reveal a lot about the country.
Compared to other countries with fewer highways or narrower roads, the U.S. is very much a truck-friendly country. Across the U.S., the most sold vehicle in 2019 was the Ford F-Series of trucks, primarily the F-150.
As the home of the world’s pioneer automotive manufacturers, including Ford and GM, consumers primarily purchase local brands. But that hasn’t stopped Toyota, the largest foreign manufacturer in the world, from also gaining a foothold.
This graphic uses 2020 sales data from automotive information resource Edmunds.com, breaking down the best selling vehicles in each state through new vehicle retail registration.
What Are the Best Selling Vehicles in Each State?
Despite a slowdown in vehicle sales due to the COVID-19 pandemic and a global chip shortage, Americans still bought plenty of trucks last year.
In fact, 48 out of the 50 states had a truck or SUV as the top selling vehicle in 2020—and most states actually had trucks taking all of the top three spots. The only two with a car topping the leaderboard were California and Florida.
|Top Selling Vehicle By State (2020)||#1||#2||#3|
|Alabama||Ford F-Series||Chevrolet Silverado||Toyota Camry|
|Alaska||Ram 1500-3500||Ford F-Series||Chevrolet Silverado|
|Arizona||Ram 1500-3500||Ford F-Series||Chevrolet Silverado|
|Arkansas||Ram 1500-3500||Ford F-Series||Chevrolet Silverado|
|California||Honda Civic||Toyota RAV4||Toyota Camry|
|Colorado||Ford F-Series||Ram 1500-3500||Toyota RAV4|
|Connecticut||Honda CR-V||Toyota RAV4||Subaru Forester|
|D.C.||Toyota RAV4||Honda CR-V||Subaru Forester|
|Delaware||Ford F-Series||Chevrolet Silverado||RAM 1500-3500|
|Florida||Toyota Corolla||Ford F-Series||Toyota RAV4|
|Georgia||Ford F-Series||Chevrolet Silverado||RAM 1500-3500|
|Hawaii||Toyota Tacoma||Toyota 4Runner||Toyota RAV4|
|Idaho||Ford F-Series||RAM 1500-3500||Chevrolet Silverado|
|Illinois||Ford F-Series||Honda CR-V||Chevrolet Silverado|
|Indiana||Chevrolet Silverado||Ford F-Series||Chevrolet Equinox|
|Iowa||Chevrolet Silverado||Ford F-Series||RAM 1500-3500|
|Kansas||Ford F-Series||Chevrolet Silverado||RAM 1500-3500|
|Kentucky||Chevrolet Silverado||Ford F-Series||RAM 1500-3500|
|Louisiana||Ford F-Series||Chevrolet Silverado||RAM 1500-3500|
|Maine||Ford F-Series||Chevrolet Silverado||RAM 1500-3500|
|Maryland||Toyota RAV4||Ford F-Series||Honda CR-V|
|Massachusetts||Toyota RAV4||Honda CR-V||Ford F-Series|
|Michigan||Ford F-Series||Chevrolet Equinox||RAM 1500-3500|
|Minnesota||Chevrolet Silverado||Ford F-Series||RAM 1500-3500|
|Mississippi||Ford F-Series||Chevrolet Silverado||RAM 1500-3500|
|Missouri||Ford F-Series||Chevrolet Silverado||RAM 1500-3500|
|Montana||Ford F-Series||RAM 1500-3500||Chevrolet Silverado|
|Nebraska||Ford F-Series||Chevrolet Silverado||RAM 1500-3500|
|Nevada||Ram 1500-3500||Ford F-Series||Toyota RAV4|
|New Hampshire||Ford F-Series||Chevrolet Silverado||Toyota RAV4|
|New Jersey||Honda CR-V||Honda Civic||Toyota RAV4|
|New Mexico||Ford F-Series||RAM 1500-3500||Chevrolet Silverado|
|New York||Honda CR-V||Toyota RAV4||Jeep Cherokee|
|North Carolina||Ford F-Series||Chevrolet Silverado||RAM 1500-3500|
|North Dakota||Ford F-Series||Chevrolet Silverado||RAM 1500-3500|
|Ohio||Ford F-Series||RAM 1500-3500||Chevrolet Silverado|
|Oklahoma||Ford F-Series||RAM 1500-3500||Chevrolet Silverado|
|Oregon||Toyota RAV4||Ford F-Series||RAM 1500-3500|
|Pennsylvania||Ford F-Series||RAM 1500-3500||Honda CR-V|
|Puerto Rico||Toyota RAV4||Toyota Yaris||Toyota Corolla|
|Rhode Island||Toyota RAV4||Honda CR-V||Ford F-Series|
|South Carolina||Ford F-Series||Chevrolet Silverado||RAM 1500-3500|
|South Dakota||Ford F-Series||RAM 1500-3500||Chevrolet Silverado|
|Tennessee||Ford F-Series||Chevrolet Silverado||RAM 1500-3500|
|Texas||Ford F-Series||Chevrolet Silverado||RAM 1500-3500|
|Utah||Ford F-Series||RAM 1500-3500||Chevrolet Silverado|
|Vermont||Ford F-Series||Toyota RAV4||RAM 1500-3500|
|Virginia||Ford F-Series||Toyota RAV4||Honda CR-V|
|Washington||Toyota RAV4||Ford F-Series||Ram 1500-3500|
|West Virginia||Ford F-Series||Chevrolet Silverado||Ram 1500-3500|
|Wisconsin||Ford F-Series||Chevrolet Silverado||Ram 1500-3500|
|Wyoming||Ram 1500-3500||Ford F-Series||Chevrolet Silverado|
The Ford F-Series was the clear leader in sales, primarily in the Midwest. With a top-selling spot in 60% of U.S. states, the F-Series was the best selling vehicle in America.
Combined with the Chevrolet Silverado and Ram 1500-3500 series, the big three American truck brands accounted for 73% of the top three selling vehicles across all American states and territories.
Japanese Automakers in the Mix
Though American manufacturers had the best selling cars in most states, they had some overseas competition.
Japanese manufacturers Toyota and Honda had the top-selling vehicle in 11 states (and D.C.). They primarily captured car sales along the coastlines, including in California, Florida, New York and Washington, some of the most populated states in the country.
|America's Best Selling Vehicles (2020)||Type||# Times in Top 3|
Despite many cars being available for sale in the U.S., only seven manufacturers made the top-selling vehicles list in 2020.
With the full effects of the COVID-19 pandemic yet to be reflected in the sales, and electric vehicle manufacturers like Tesla on the rise, how will the best selling vehicles in America evolve?
Ranked: Big Tech CEO Insider Trading During the First Half of 2021
Big Tech is worth trillions, but what are insiders doing with their stock? We breakdown Big Tech CEO insider trading during the first half of 2021.
Big Tech CEO Insider Trading During The First Half of 2021
When CEOs of major companies are selling their shares, investors can’t help but notice.
After all, these decisions have a direct effect on the personal wealth of these insiders, which can say plenty about their convictions with respect to the future direction of the companies they run.
Considering that Big Tech stocks are some of the most popular holdings in today’s portfolios, and are backed by a collective $5.3 trillion in institutional investment, how do the CEOs of these organizations rank by their insider selling?
|CEO||Stock||Shares Sold H1 2021||Value of Shares ($M)|
|Jeff Bezos||Amazon (AMZN)||2.0 million||$6,600|
|Mark Zuckerberg||Facebook (FB)||7.1 million||$2,200
|Satya Nadella||Microsoft (MSFT)||278,694||$65|
|Sundar Pichai||Google (GOOGL)||27,000||$62|
|Tim Cook||Apple (AAPL)||0||$0|
Breaking Down Insider Trading, by CEO
Let’s dive into the insider trading activity of each Big Tech CEO:
During the first half of 2021, Jeff Bezos sold 2 million shares of Amazon worth $6.6 billion.
This activity was spread across 15 different transactions, representing an average of $440 million per transaction. Altogether, this ranks him first by CEO insider selling, by total dollar proceeds. Bezos’s time as CEO of Amazon came to an end shortly after the half way mark for the year.
In second place is Mark Zuckerberg, who has been significantly busier selling than the rest.
In the first half of 2021, he unloaded 7.1 million shares of Facebook onto the open market, worth $2.2 billion. What makes these transactions interesting is the sheer quantity of them, as he sold on 136 out of 180 days. On average, that’s $12 million worth of stock sold every day.
Zuckerberg’s record year of selling in 2018 resulted in over $5 billion worth of stock sold, but over 90% of his net worth still remains in the company.
Next is Satya Nadella, who sold 278,694 shares of Microsoft, worth $234 million. Despite this, the Microsoft CEO still holds an estimated 1.6 million shares, which is the largest of any insider.
Microsoft’s stock has been on a tear for a number of years now, and belongs to an elite trillion dollar club, which consists of only six public companies.
Fourth on the list is Sundar Pichai who has been at the helm at Google for six years now. Since the start of 2021, he’s sold 27,000 shares through nine separate transactions, worth $62.5 million. However, Pichai still has an estimated 6,407 Class A and 114,861 Class C shares.
Google is closing in on a $2 trillion valuation and is the best performing Big Tech stock, with shares rising 60% year-to-date. Their market share growth from U.S. ad revenues is a large contributing factor.
Last, is Tim Cook, who just surpassed a decade as Apple CEO.
During this time, shares have rallied over 1,000% and annual sales have gone from $100 billion to $347 billion. That said, Cook has sold 0 shares of Apple during the first half of 2021. That doesn’t mean he hasn’t sold shares elsewhere, though. Cook also sits on the board of directors for Nike, and has sold $6.9 million worth of shares this year.
Measuring Insider Selling
All things equal, it’s desirable for management to have skin in the game, and be invested alongside shareholders. It can also be seen as aligning long-term interests.
A good measure of insider selling activity is in relation to the existing stake in the company. For example, selling $6.6 billion worth of shares may sound like a lot, but when there are 51.7 million Amazon shares remaining for Jeff Bezos, it actually represents a small portion and is probably not cause for panic.
If, however, executives are disclosing large transactions relative to their total stakes, it might be worth digging deeper.
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