Replies

“...they fear being subjected to secondary sanctions from the U.S”

Don’t bet on that one. The US has so many dollars and time of businesses invested in China they’d be cutting off their nose despite their face. And that doesn’t count the businesses that Hunter has in China that Joe would have to protect. China has the financial clout to make more trouble for us than Russia any time.

U.S. goods and services trade with China totaled an estimated $758.4 billion in 2022. Exports were $195.5 billion; imports were $562.9 billion. The U.S. goods and services trade deficit with China was $367.4 billion in 2022.

U.S. goods exports to China in 2022 were $154.0 billion, up 1.7 percent ($2.6 billion) from 2021 and up 39 percent from 2012. U.S. goods imports from China totaled $536.3 billion in 2022, up 6.3 percent ($32.0 billion) from 2021. U.S. exports to China account for 7.5 percent of overall U.S. exports in 2022. The U.S. goods trade deficit with China was $382.3 billion in 2022, a 8.3 percent increase ($29.4 billion) over 2021.

U.S. exports of services to China were an estimated $41.5 billion in 2022, 5.2 percent ($2.1 billion) more than 2021. U.S. imports of services from China were an estimated $26.6 billion in 2022, 24.1 percent ($5.2 billion) more than 2021, and 97 percent greater than 2012 levels. Leading services exports from the U.S. to China were in the travel, intellectual property, and financial services sectors. The United States had a services trade surplus of an estimated $14.9 billion with China in 2022, down 17.3 percent from 2021.

U.S. foreign direct investment (FDI) in China (stock) was $126.1 billion in 2022, a 9.0 percent increase from 2021. U.S. direct investment in China is led by manufacturing, wholesale trade, and finance and insurance.

China’s FDI in the United States (stock) was $28.7 billion in 2022, down 7.2 percent from 2021. China’s direct investment in the U.S. is led by manufacturing, real estate, and depository institutions.

If folks here took the time to read through this, they will get the idea we are screwed. And this doesn’t tke into effect the losses on investments China has here. So, if anyone thinks that the US is going to bring the hammer down financially on China, they are out of touch with the world. No chance.

wy69

I agree. The premise may be true but the reasons ring hollow. China can get oil from many sources. They may not be interested in banking or finance with Russia but that’s probably because they have 5-10-15 year down the road planning. If they are doing anything, it’s less to do with fear of near term economic repercussion and more because it suits their vision. A weak Russia is in their interests and they are probably sitting back smiling as the mess in Ukraine weakens and distracts Russia, Europe and the US.