Stop hyperventilating and be happy that you don’t have to spend 100 dollars for an Italian sweater when a Chinese one will do just fine.
Or better yet, knit your own.
We have become a raw materials supplier for China.
We send them crops. And we send them our jobs.
20 billion dollars every month, is our bilateral trade deficit with China.
Have you looked at the Wall Street Journal recently?
Pick a Fortune 500 company at random. Then look at how much that entire company is worth.
Chances are, that entire Fortune 500 company, is worth less than what we ship to China every month.
This situation is suicidal.
We’re not talking economic theory. This is not some intellectual exercise.
We are squandering our national heritage. All of it. Our knowhow. Our skills. Our financial security. All of it.
We really are.
They sure as heck can't get enough of our chicken feet! It must make your grandma real angry. You simply can't make good chicken soup without chicken feet.
According to The Economist's Pocket World in Figures, US exports go to the following top five countries: Canada [23.5%], Mexico [13.7%], Japan [6.7%], UK [4.6%], and then China [4.3%].
The top five countries that supply the US with imports are: Canada[17.4%], China [13.3%], Mexico [10.6%], Japan [8.8%], and Germany [5.2%].
It is obvious that China exports far more to us than we do to them. 21% of China's exports go to the US and China only receives 8% of its imports from the US. China imports more from Japan, Taiwan, and South Korea than they do from us.
Get real. What China buys from us is chump change.