Posted on 07/10/2013 7:18:25 PM PDT by TexGrill
BEIJING: China has warned of a “grim” outlook for trade as the world’s second-largest economy surprised financial markets by reporting a fall in exports and imports when both had been expected to rise.
The figures, which follow a government crackdown on the use of fake invoicing that had exaggerated exports earlier this year, are likely to raise fresh concerns about the extent of the slowdown in the economy and global demand. The June data, showing that exports fell 3.1% from a year earlier and imports dropped 0.7%, may now reflect the true trade picture, customs officials said.
“China faces relatively stern challenges in trade currently,” customs spokesman Zheng Yuesheng told a news briefing on the June trade figures. “Exports in the third quarter look grim.”
The customs agency said exporters were losing confidence in the face of weak overseas demand, rising labour costs and a strong yuan. The Australian dollar briefly fell about a third of a cent after the China data, reflecting worries about Chinese demand for Australia’s commodities, such as iron ore and coal.
(Excerpt) Read more at thestar.com.my ...
Just for practical comparison purposes:
What is America’s trade deficit currently per month?
What is China’s trade (surplus) currently per month?
Bring back American industry, and stop buying everything from everywhere, except America.
Thanks.
And if you do that Americans will have to pay double or triple the current prices of goods. I appreciate your support for pro-Obama labor unions, but sometimes I like to buy goods on discount.
Haha.
Cheers. But buy American. :D
Sorry, but I support capitalism for consumers. Americans should have the right to comparison shop, that’s how a free market is supposed to work.
:D Buy American.
(right back at ya)
Don’t get me wrong. I like free markets. I also like American markets.
For three decades, we have been selling every factory in America to China.
Time to bring them back.
Time to balance our trade. Balance our manufacturing.
If we need to pay more for some things, then charge a tariff and make some money on imports.
Balance is the key.
“Cheers. But buy American. Just pay more to the politically-connected. It’s patriotic.”
One day, you’ll come around.
Just you wait...
Personally, I’m a little tired of Chinese crap that breaks two days after you get it home.
Right about the time you send me to the camps and announce your first Five Year Plan, comrade.
If you really want American corporations to bring back their factories to the US then you must kick out labor unions, lower wages, lower taxes and lift numerous regulations. Don’t expect Bathouse Barry or Hildabeast to make those structural economic changes in the near future.
Stop mischaracterizing my position.
I am for American trade.
Free American trade.
Not imports from Communist countries. Just saying.
Thanks.
Stuff it. You’ve made a habit of mischaracterizing mine, for as long as I remember you. If you dislike my comments so much, maybe you should figure out a way to tax them. It’s your specialty.
If I’m reading the technology tea leaves correctly, US trade balances will turn positive in 5-10 years.
First,US oil production is rising at a rate of 1 million barrels@ day. At that rate the USA won’t be importing any oil in five years.
That chops out half the deficit.
Also, judging by everything you read on 3D printing and inshoring — The offshoring of manufacturing is going to come to an end and return to the USA. This is more of a sketch but I’ve read a dozen or more articles on both inshoring and 3D printing which suggest that corporate fashions and numbers will dictate that the big companies return their manufacturing back to the USA. But on a more profound technological level — 3D printing—will kill the offshoring business model.
Oh I understand, and agree with the principle behind what you’re saying.
I completely agree that Bathhouse Barry and Hildabeast are big problems, and need to be defeated.
What I am saying though, is America needs to make things. America needs to make things now. America needs to manufacture, and America needs to export.
That needs to happen now.
We cannot wait. See a big part of America’s problem right now, is that we have exported American manufacturing.
That is the problem.
American manufacturing is shrinking so much, that many Americans are out of work.
So many Americans are out of work, that lots of people are on government assistance, and that costs America a whole lot of money.
Sorry I know I am ranting a bit, but we have caused this ourselves.
America needs to manufacture, and build things in America.
Bring back US manufacturing.
Balance out our international trade.
Now.
Very intruiging
I can support this view. Pay more for higher quality or pay less for worse quality. But let the consumers decide for themselves.
America sneezes, China gets diarrhea.
Kissinger got China on their feet.
Manufacturing produces value, goods, profit.
Now in the age of high tech and robotics, time to revive manufacturing.
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