That's just wrong, and it really does nicely introduce your bizarre leap from Chinese trade to the antichrist!!! Wowsers. I'll have whatever you're having. LOL!!!
Look, China was making rice and drink umbrellas 50 years ago when we were developing nukes...it should be no surprise that they are making huge percentage gains on those fuly industrialized countries which they have been following. (See the last para. quote) Sure they will continue to pull themselves up, but they too will hit an asymptotic development wall and a communist central planning regime will never be able to match the continued innovation that keeps American Manufacturing at the forefront. And the antichrist may show up for other reasons such as Islam, but he ain't coming because of a trade deficit!!!!!
Here's an interesting Indian perspective on world trade "The Continuing Paradox of World Manufacturing Employment"
-SNIP-Of course, within this, the shift in location of manufacturing production from developed to developing countries can be exaggerated. As Chart 2b indicates, even in 2000, certain developed countries dominated world trade in manufactured goods. Indeed, the United States, the European Union and Japan together still accounted for more than 60 per cent of manufactured exports in 2000. But what is evident is that the share of the major developed country exporters had come down even over the decade of the 1990s, continuing a process that had begun earlier and was clearly evident in the 1980s.
Thus, as is clear from a comparison of Charts 2a and 2b, the share of Germany in world manufacturing exports fell quite sharply from 16 per cent to 10 per cent over the decade, and most other major developed country exporters experienced declines in their shares of at least one percentage point or more. Only the United States increased its share, from 12 to 14 per cent, contrary to the widely held perception that it dominated world manufactured goods trade only by virtue of its huge capacity for manufactured imports. In contrast to this, countries like the People's Republic of China and Mexico managed to nearly triple their shares (albeit from relatively low bases) over this period.
Chart 2a >>
Chart 2b >>
These trends are confirmed by the rates of growth of manufacturing exports of the major exporters, as shown in Chart 3. Among the major developed industrial countries, the US experienced by far the fastest rate of manufactured export expansion. However, a number of developing countries showed dramatically high rates of export growth of nearly 20 per cent annual average over the decade. It should be noted that this cover the period from 1990 to 2000, and so includes periods like the East Asian crisis and the subsequent world economic recession, during which such export growth could be expected to have slowed down somewhat.
Chart 3 >>
With such rapid rates of manufacturing export growth, fears of de-industrialisation would appear to be misplaced. In any case, such high rates would suggest that employment in manufacturing would also have grown at reasonably high, or at least positive, rates, over this period. However, the UNIDO data on aggregate employment in manufacturing over the period 1985-99, as described for some countries in Chart 4, suggest a very different tendency. In fact, it turns out that in most of the countries, aggregate manufacturing employment has actually fallen, in some cases quite substantially. Chart 4 >>
Among major developed countries, only the United States shows a positive rate of employment growth for aggregate manufacturing, and that too only the very low rate of 0.1 per cent per annum, which is akin to stagnation. Other developed countries show declines in manufacturing employment. But the real shock comes with the developing countries which are major manufactured exporters. Some countries like Mexico, with manufactured exports growing at nearly 20 per cent per annum, have nevertheless experienced actual declines in aggregate manufacturing employment.
