China June trade surplus swells five-fold

Reuters ^ | Reuters

[jpsb]

BEIJING (Reuters) - China's trade surplus for June swelled five-fold from a year earlier as exports grew much faster than imports, offering more ammunition for foreign critics who argue that Beijing should let the yuan rise in value.

The June surplus grew to $9.68 billion, exceeding forecasts of $8.0 billion and towering above the $1.8 billion surplus recorded for June 2004.

[kittymyrib]

And the Chicoms are gobbling up gas and oil all over the world at today's premium prices, while making these fantastic profits. Who said slavery was a bad idea?

[Paul Ross]

It will go a lot higher, as there are fewer and fewer items that have a "Made in USA" that foreigners would be willing to buy. Americans dont even buy goods that are "Made in USA" so why should foreigners buy them? We have only just begun to get the benefits from free trade. We still have a few manufacturing jobs in America that are done by overpaid American citizens. Even in 2005, almost 1 in 10 American workers still actually produce something . Sooner or later all the overpayed American auto workers, office workers, insurance processors, those that work in billing, claims, call centers, accounting, etc will replaced by chinese. The trade deficit with china will go much higher, since we still have lots of jobs to move over there, and there is nothing that we produce that the chinese want to buy."

Yep. That's about the size of this "free trade" conundrum. Yep. Its all about the consoooooooomer. Producer and production be damned. Not relevant...until the balloon goes up.

[ex-snook]

"offering more ammunition for foreign critics who argue that Beijing should let the yuan rise in value."

ammunition = blanks when China wants to make not buy. Our competitive advantage is to export factories and dollars which are used to buy America. Raising the value of the Yuan will give China more bang for our buck.

[devane617]

>>Keep shopping at wal-mart folks<<

When will people wake up to the facts about WMT. THose every-day-low-prices has a long term effect.

[HamiltonJay]

Those facts come directly from the US LABOR department... they are fully supportable.. your ignorance of the topic does not undermine facts. I suggest you actually gain some knowlege of the topic at hand before implying those who you don't agree with are as ignorant as you on them.

[Protagoras]

Keep shopping at wal-mart folks.

I don't usually shop there, but I'm going to start now.

[Protagoras]

And Washington just fiddles while the trade deficit burns...

What will happen if it stays high?

[kellynla]

BTTT

[Protagoras]

Sooner or later all the overpayed American auto workers, office workers, insurance processors, those that work in billing, claims, call centers, accounting, etc will replaced by chinese.

Maybe they should get more competitive?

[EagleUSA]

As long as Congress has its golden parachutes why should they give a damn about the rest of the country? They are P.T. Barnum, and we are their suckers.
-------
Yes, the "useful idiots" that Marx extolled as the basis for his success, seem to be the U.S. public! Looks more and more like that each and every day...pick the issue, the people are losing on every one!!! Immigration (illegal invasion), taxation, medical costs, national debt, cost of living, socialism, size of government, protection of the Constitution, our judiciary....just pick your issue...YOU LOSE!!!

[1rudeboy]

You could just as easily tell me those "facts" came from outer space. If I am "ignorant," then enlighten me. Furthermore, I did not "imply" that you are ignorant.

[Protagoras]

5 years from now, we'll all be driving around in ugly little egg-shaped Chinese cars that will look just like the ugly little egg-shaped Japanese and Korean cars that we drive around in today.

I thought we only hated the Chinese? Now we have top hate the Japs and Koreans too?

Scheesh,,,so much to hate, so little time. LOL

[Paul Ross]

Sorry, but manufacturing generates about 3.5 jobs per direct job.. service 1.6... that's facts folks, and free traders can lie all day long, but its the truth.

Correct, and it bears repeating.

Chart here from the National Association of Manufacturers.

And as reprinted below:

The Multiplier Effect

Manufacturing ripples through the economy and creates jobs and income in other industries that support it such as construction, information technology, insurance, retail, utilities, etc.

	Sales	Economic output OUTSIDE manufacturing
Manufacturing	$1.00	$1.43
Service sector	$1.00	$.71

	Sales	Jobs supported OUTSIDE manufacturing
Manufacturing	$1.00	13.0
Service sector	$1.00	3.5

National Association of Manufacturers (NAM). "The Facts About Modern Manufacturing." September 30, 2003.

[Protagoras]

... but hey, who cares if we can't manufacture enough materials to sustain ourselves in a long term direct conflict with China...

Why can't we do it ourselves?

[1rudeboy]

Thanks.

[dennisw]

ChiComs get to buy some more of our oil companies with the US dollars they're raking in...

How retarded is it to think that our humongous trade deficits are not suicidal?

[superiorslots]

Quote: Maybe they should get more competitive?

Americans are the most competitive and productive worker in the world except when it comes to being copettive to 88 cent per hour jobs.

Glad you always stick up for america and it's workers ...NOT!!

Glad to see that you are going to do even more shopping at WM. Are you even American?? I've never seen one of your replies that sticks up for americans or our way of life.

[Protagoras]

When will people wake up to the facts about WMT. THose every-day-low-prices has a long term effect.

Yeah, stupid ass people,,,they should shop at Target and Pennys and Sears and Kmart and Home Depot and Menards. Those companies don't sell Chinese goods.

[winner3000]

Not everything in Walmart is made in China! Furthermore, shopping at Walmart drives the libs batty!

[jpsb]

"How retarded is it to think that our humongous trade deficits are not suicidal?"

I think that everyone, except out and out traitors, are beginning to get it.