Posted on 02/10/2013 2:28:32 PM PST by lowbridge
China has leapfrogged the US to become the world’s biggest trading nation, bringing an end to the US’s post-war dominance of global commerce.
The total value of US exports and imports in 2012 was $3.82 trillion (£2.4 trillion), the US Commerce Department has revealed. China’s customs administration has already announced that the country’s total trade last year was worth $3.87 trillion.
“It is remarkable that an economy that is only a fraction of the size of the US economy has a larger trading volume,” Nicholas Lardy, a senior fellow at the Peterson Institute for International Economics in Washington, told Bloomberg. “The surpassing of the US is not because of a substantially undervalued currency that has led to an export boom,” Mr Lardy said, pointing out that Chinese imports have grown at a faster rate than exports since 2007.
Not only has China managed to post a larger total trading figure, but the breakdown of imports compared with exports also makes for favourable reading in Beijing. China had a full-year trade surplus of $231.1bn with the US posting a total 2012 trade deficit of $727.9bn.
Indeed, the Asian powerhouse looks set to table an even better performance in 2013, as trade accelerated substantially last month. Exports jumped 25pc on a year-on-year basis and imports were up 29pc in January, beating analysts’ expectations. However, the data is distorted by the timing of the Chinese New Year festivities.
(Excerpt) Read more at telegraph.co.uk ...
Living in this country is like living in the former Soviet Union, you can’t trust anything coming from the US media, and have to go to foreign press to get the truth.
It was the “China Card” that we used as a bulwark against the Soviets.
Compare with a before/after picture of Detroit.
How is that working out? /s
Which is not the same as saying, "Paying a little more for goods because of tariffs is better than living under a bridge." Thanks for playing.
We've seen the benefits of free trade and lived through the disasters of protectionism. Tonight I ask all our trading partners, developed and developing alike, to join us in a new round of trade negotiations to expand trade and competition and strengthen the global economy - and to begin it in this next year.
--Ronald Reagan, Progressive Marxist and Clinton, Bush and Obama-esque globalist.
Maybe we can conjure up Madison, Jefferson and Washington's spirit to explain things to a Free Trade religious fanatic like you.
By the way, does China vs Japan bother you? (Hypothetically) I mean we can't go to war with China and still have their container ships mooring to US piers? Or are you that far gone...
I’d like to see you explain how adding, say, a 20% tariff to Chinese ping-pong balls will prevent a war between China and Japan.
China didn't start its industrialization (in earnest,at least) until after Tienanmen Square in 1989,the same year the Berlin Wall fell.
Wasn’t my question dodge boy. Forget tariffs, can you ethically support free trade when one of out allies is at war with China? Answer the question coward.
I normally support free trade, but there has to be a line drawn in some cases....For example, I think Free Trade with Nazi Germany and Tojo’s Japan would not have been in the US’s best interest...It comes down to the question of whether or not we consider China to be a potential enemy, or more importantly, do they consider us to be their enemy.
It didn’t happen overnight, but the groundwork started being laid after Jimmy Carter normalized relations with Beijing.
Here is a follow up question. What if Japan and China get into a hot war. If Japan starts sinking Chink Container ships(yeah) are you going to cry foul? I most surely will not. So, whose side are you on? Free Traitors need to start thinking things thru.
Shanghai is an awesome spectacle, especially at night.
Then why did you use question marks?
You are big phony. Cowardice and being a traitor a qualities that seem to go hand in hand. Perhaps you are proof.
Frankly, I would laugh, and think to myself "good show, Nippon." And then run to my computer to try and find video of it.
We actually agree about something.
You are just cute. Wrapping yourself in the flag (and that would be the Union flag), in order to justify more government intervention, an even bigger federal government, and higher taxes. For the children.
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