Posted on 08/13/2011 6:52:27 PM PDT by Mikey_1962
An analysis just released by the Federal Reserve Bank of San Francisco concludes that most of what Americans spend on consumer goods, electronics, clothing, sneakers and the like, stays in America. Surprisingly little comes from China after all. Say the authors:
Goods and services from China accounted for only 2.7% of U.S. personal consumption expenditures (PCE) in 2010 Chinese imports make up only a small share of total U.S. consumer spending
Athough globalization is widely recognized these days, the U.S. economy actually remains relatively closed. The vast majority of goods and services sold in the United States is produced here. In 2010, imports were about 16% of U.S. GDP. Imports from China amounted to 2.5% of GDP.
About 55% of the amount spent on goods made in China stays in the U.S. as well, in the form of transportation costs, wholesale and retail marketing expenses, and labor. Put another way, $276 billion was spent in 2010 on consumer goods labeled Made in China compared to the total consumer spending of $10.2 trillion, and $153 billion of that stayed in the United States.
When local services such as doctors appointments or a trip to the local theatre or restaurant are excluded, China still takes only about 20 percent of consumer spending on household equipment and furniture, and just 35 percent of clothing and shoe sales. All together then, when the American consumer spends money, only about 3 cents of every dollar is actually spent on Made in China goods, and half of that stays here. As noted by Doug Henwood, this study should revise a lot of clichés. Its also a reminder of how much economic activity is inside the American economy that for most consumers, the best customer is themselves.
(Excerpt) Read more at thenewamerican.com ...
Probably not made in China. But are you convinced that it is made in Canada?
All Clad cookware. Made in the USA and the best cookware out there.
Anchor Hocking glass. Not high end but durable.
Tervis tumblers. Don’t sweat in the Florida heat.
Viking, Sub Zero and Wolf appliances.
Come to think of it my entire kitchen is pretty much Made in the USA. Except the Henckels knives.
Forgot food. A lot of frozen, packaged, and processed food, supplements (all vitamin C supplements use vitamin C from China) come from there.
This was Mussolini’s argument to build up Fascist Italy by restricting imports. Worked out great for him.
Since the policy sucks, I expect Obama to employ it along with an enabling act.
After years of corrupt government leadership, NAFTA, the U.N globalist, with government becoming an all controlling, corrupt Oligarchy..
What an utter disaster...
IMO if their were zero, NO US regulations regarding manufacturing, the outsourcing/offshoring tide continue be unabated.
That yup jackass is on the right side of the argument if you are part of the "new world odor". To him you and I are just silly jingoists.
BTTT
Personal consumption expenditure? I assume that means food, utlitiies and everything else. And services? What is that supposed to mean. All I know is that almost everything from clothes to tools to shoes to safety pins to needles to household utensils are made in China and they're crappy, and taking jobs from Americans.
IMO, the too much govt regulation meme and the unions excuse is just that an excuse to exploit the slave labor and off shore factories. At this point, nothing short of a World War, will stop this insanity.
I remember before the U.N. globalist got a foothold in D.C., America was a great country, with a growing economy, increased standard of living, our borders weren’t a lawless country killing nightmare, and most everyone here spoke English, the thread that once held this country together.
After years of corrupt government leadership, NAFTA, the U.N globalist, with government becoming an all controlling, corrupt Oligarchy..
What an utter disaster...
Just what we need a world war in an age with thousands of nukes. Now that is insanity.
Hitler had nerve gas ready to but never ordered its use. This an example where wmd was not used.
Very comforting but WW2 still killed 50-100 million people. WW3 could double that without resorting to WMD...still don’t see how a World War would be an improvement on the current ‘insanity.’
Of course they do. Anything not made in asia is preferred. Especially a surgically enhanced western-style pointy nose. Some people mistake this to be a fondness for western people and civilization. Nothing can be further from the truth. I've heard this type of argument before. Somone told me that muslims in the middle east love us because they are buying more american cars and like to smoke american cigs. Yes, they like our stuff, in the same sense that the London looters like our stuff too.
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