Posted on 12/08/2020 7:57:47 AM PST by BenLurkin
China's economy is roaring back as Americans gobble up everything from its cellphones to its health masks, raising the stakes for trade relations with the United States as President-elect [nope] Joe Biden gets set to take over.
Data on Monday showed China notched a record $75.4 billion trade surplus in November after exports from China to the rest of the world jumped 21.1% compared to a year ago.
Much of the increase was driven by a 46% jump in exports to the United States – despite tariffs imposed by President Trump that have contributed to the worst relations between the two countries in decades.
Among the goods Americans bought from China were personal protective equipment and electronic gadgets while many work from home.
Biden is seen as likely to adopt a more polite tone, but he's unlikely to ease off on China as American attitudes toward the world's second economic superpower have worsened.
"China's surprising strength in exports since the economic re-opening has been mainly driven by its status as the first economy out of the COVID-19 pandemic and a beneficiary of the massive financial relief provided in [developed market] economies to maintain consumption demand," investment bank Nomura said in a research report.
China did step up its purchases from the United States in November, but the 33% jump in imports was more than offset by the rise in Chinese exports.
China's trade surplus with the U.S. rose to $37.3 billion, accounting for nearly half of the country's trade surplus worldwide in November.
And although China bought more U.S. pork and soybeans, its overall imports are still well short of the pace called for in a "Phase 1" trade deal signed in January.
Under that agreement, China is expected to boost its imports of goods and services from the U.S. by $200 billion over 2017 levels by the end of next year.
It was part of Trump's push to reset trade relations under his "America first" agenda after repeatedly saying China and other countries were taking advantage of the United States.
Chad Bown, who tracks China's purchases at the Peterson Institute for International Economics, said that through October, China had purchased less than 60% of what it promised under this year's targets.
The trade data comes amid signs that China, where the outbreak of the coronavirus was first identified, has recovered more quickly than other major economies.
Disgusting. I live in Hong Kong and don’t buy Chinese crap. My business completely stopped buying their garbage and HK people don’t want it.
This whole COVID thing was planned out the CCP and American Deep State.
What a bunch of fools we are.
Because most Americans couldn’t care less about what they don’t understand. Give me my cheap/free stuff!
This pretty much confirms what so many of us here believed from the beginning of this PLANDEMIC. The Deep State colluded with China and both are about to get what they want. The Swamp is about to cement their power over the entire federal government, and the Chinese are about to regain their trade advantage over us.
STOP BUYING SH!T FROM CHINA
People need to check labels for purchases.
I do and I buy made in America first and foremost.
I have passed on Made in China stuff unless there is absolutely no other options.
“We can’t always see country of origin..”
BINGO! We have a winner. I blame Amazon for a lot of this.
Have you seen the number of Chinese vendors on Amazon?
They are getting sneakier about hiding where things come from. One has to do a bit of detective work on a lot of items to determine it is being shipped from China.
“One thing I bought, was Made in America.”
99% chance that all the components of that item came from China.
I don’t blame Amazon or Walmart or American consumers.
I blame government trade policy. This is the appropriate place where the decision should be made and the actions taken to protect American industry.
And Trump knows trade policy is to blame. But he is walking a balancing act between raising tariffs too fast and causing an economic shock. And never Trumpers/globalists who are already incensed at the tariffs he is putting in.
Every product I buy, is checked for made in Chinkland. If so, back on the shelf it goes!! Stop buying their anti-American crap!!
I double check every product. I do not buy Chinese labeled products (except food if I cannot use Japanese alternative) The problem is the Chinese have so many crap components in “made in America” devices that you in effect are buying their junk. My 2017 vehicle spent months at the dealership being repaired. They had corporate engineers trying to figure out the problem. In the end it turned out a junk Chinese’s made sensor which had been replaced in the beginning. The crap Chinese replacement sensor was sending false information to the computer. But it always passed diagnostic testing. They replaced it with a another sensor and damn it worked. That was after the entire fuel and emissions system had been replaced including injectors and fuel pumps. Now I am waiting for the next POS Chinese part to fail when I am out of warranty.
I would happily buy 3M n-95’s here, but I don’t think they exist.
I bought a Govee thermometer/hygrometer with alarm feature and graph tracking for my greenhouse. Made in China. $13.99. No more having to go outside in the cold or rain to check the greenhouse temp or humidity. Yes, it is made in China..
On the thermometer/hygrometer the “developed and supported” (I think that is cover for Made in China) in the USA and “made in USA” versions are priced from $49.99 to $139.00.
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