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CHINA BEATS UNITED STATES~ Thank you Washington
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In accordance with industry accepted best practices we ask that users limit their copy / paste of copyrighted material to the relevant portions of the article you wish to discuss and no more than 50% of the source material, provide a link back to the original article and provide your original comments / criticism in your post with the article.
[quote:Anonymous Coward 34077720:MV8yMTM0MDY4XzM2MDM1MzkwXzhEMUNCQUM2] [quote:RayGun:MV8yMTM0MDY4XzM2MDM0NjkzX0FBNjI0RUYy] The root of our economic downturn is the trade imbalance with China. I've been in manufacturing for my entire life and watched company after company go out of business or shift production offshore. [color=red][b]Our economy won't recover until our politicians protect our manufacturers.[/b][/color] On a side note. The wealth of America used to be centered in the manufacturing states like Michigan, Illinois, New York, and California. Now the money is all in Washington DC. Corruption of both political parties has ruined our future. The MSM has chosen destruction over truth. :Tyrant: [/quote] needs to be repeated [/quote]
Original Message
U.S. exports and imports last year totaled $3.82 trillion, the U.S. Commerce Department said last week. China’s customs administration reported last month that the country’s total trade in 2012 amounted to $3.87 trillion. China had a $231.1 billion annual trade surplus while the
U.S. had a trade deficit of $727.9 billion.
“It is remarkable that an economy that is only a fraction of the size of the U.S. economy has a larger trading volume,” Nicholas Lardy, a senior fellow at the Peterson Institute for International Economics in Washington, said in an e-mail. “The surpassing of the U.S. is not because of a substantially undervalued currency that has led to an export boom,” said Lardy, noting that Chinese imports have grown more rapidly than exports since 2007.
“This trade imbalance is not representative of the amount of goods actually produced in China and exported to the U.S., but this perspective tends to get lost amidst the heated
political rhetoric in the U.S
,” said Prasad.
[
link to www.bloomberg.com
]
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