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The United States launched a blistering attack on fellow World Trade Organization member states on Thursday for failing to do more to cut global barriers to trade, criticizing India in particular for trying to introduce a "massive new loophole".

China surpassed the U.S. to become the world’s biggest trading nation last year as measured by the sum of exports and imports, a milestone in the Asian nation’s challenge to the U.S. dominance in global commerce that emerged after the end of World War II in 1945.

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.

A festering territorial dispute between China and Japan has derailed talks for a free trade zone involving the two countries and South Korea, an adviser to China's central bank said on Thursday.

FedEx Corp. says the global economy is stalling, and it's going to get worse next year. A decline in global trade is shrinking earnings at the world's second-largest package delivery company. On Tuesday, FedEx said a continued slowdown in the developed world combined with high fuel prices will keep trade volumes at low levels.

The Obama administration accused China of unfairly subsidizing its exports of autos and auto parts, while China filed its own trade case against the United States.

The U.S. trade deficit grew to $42 billion in July, widened by fewer exports to Europe, India and Brazil that offset a steep decline in oil imports.

China's imports shrank unexpectedly in August in a sign its economic slump is worsening and the Chinese president warned growth could slow further, prompting expectations of possible new stimulus spending.

It may be premature to call it a runaway hit, but in the first month since the Census Bureau released its first mobile application, it’s been downloaded more than 32,000 times. The app, called America’s Economy, provides updated statistics from the Census Bureau, the Bureau of Economic Analysis and the Bureau of Labor Statistics. It includes 16 monthly economic indicators,such as house sales, personal income, international trade, gross domestic product and the unemployment rate.

In a move that escalates a trade row with the United States, China said it would ask the World Trade Organization (WTO) to adjudicate a dispute over U.S. punitive import duties on 22 Chinese exports, including solar panels and steel products.