"
GDP stands for Gross DOMESTIC Product and is a measure of all goods and services produced domestically. Neither China nor any other nation provides any portion of our GDP."
Okay, maybe it's better here to take the liberty of directly quoting Southack while providing the link. ...hope this is alright with Southack, as I do trust and enjoy comments from him.
"
Chinese money and trade is less than one percent of the annual U.S. GDP. The Chinese-U.S. trade imbalance is $110 Billion per year; for the U.S., with a $12 Trillion economy, that $110 Billion is trivial."
From:
http://www.freerepublic.com/focus/f-news/1367222/posts?page=32#32
Maybe he was referring to a ratio of incoming money from China to our GDP, which would make sense.
Here's another bit of info from a quick search.
Morgan Stanley
Global Economic Forum "The latest views of Morgan Stanley Economists"
Andy Xie
"
Total profits from the China trade for corporate America could have amounted to US$60–80 billion, or 10–15% of total S&P 500 profits, last year."
Xie put the best face on that (only included S&P 500s) in the process of promoting business with China, BTW.
Southack was correct, in essence. All business profits included (not only S&P 500s), total profits from China are probably a very small part of those in our total market for 2004--a drop in the bucket. We've taken much larger bumps and kept running.
Can anyone who reads this find a figure for estimated total profits in all businesses in the USA for 2004?