So, they import a kilogram of iron, and make it into a box of nails that weighs about as much, considering the value addition on the part of the Chinese as comparatively low (i.e., slave labour), the box of nails would sell for slightly above the price of the raw materials themselves.
They use the "net exports" tag to hide the real value of exports. Make no mistake, China is very dependent on exports.
They use the "net exports" tag to hide the real value of exports. Make no mistake, China is very dependent on exports.
You just completely contradict yourself. Where did you study economics?
The example you gave demonstrates why China is NOT dependant on exports. Had they sorced the material domestically, then that would demonstrate a greater dependance on exports. Instead, they get it from Australia.