http://useconomy.about.com/od/tradepolicy/p/us-china-trade.htm
The following quote is from the above web page
'In 2011, theU.S. trade deficitwithChinawas $295 billion. This was up significantly from the year before, when thetrade deficitwas $273 billion. Both were higher than any prior year.
The U.S. has a trade deficit with China despite the fact that its exports to that country were the highest in history. In 2011, the U.S. exported $103.9 billion in goods, an all-time record. (Exports in 2010 were only $91.9 billion.) However,importsfromChina also set a record -- $399.3 billion, more than the $364.9 billion imported in 2010.
The U.S. imports consumer electronics, clothing and machinery from China. A lot of the imports are from U.S. based companies that send raw materials to China for cheap assembly. When they are shipped back to the U.S., they are called imports even though they are profiting American-owned companies. (Source: U.S. Census,U.S. Trade in Goods With China)
Why Is There a U.S. Trade Deficit with China?:
China is able to produce goods that Americans want at a low cost. Despite the loss in jobs, this is unlikely to change. That's because most people would rather pay as little as possible for computers, electronics and clothing -- even if it means other Americans lose their jobs. That's why the situation is unlikely to change, despite recurrent bills by legislators to imposetariffsor other forms oftrade protectionismwith China.
How does China keep prices so low? Most economists agree that China's competitive pricing is a result of two factors:
1. A lower standard of living, which allows companies in China to pay lower wages to workers.
2. An exchange rate that is partially set to be always priced lower than the dollar.'
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Trade with China
Posted by johnclarkiii@...
7th Sep
Just
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In
U.S.Downgrade
Posted by bb_apptix
10th Sep
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Trade with China
Posted by johnclarkiii@...
7th Sep
-1
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Switzerland is not a country whose lead I would want to follow..
They prosper as a nation because of a banking system which does not care how much blood is on the money they receive. They will accept money from Nazis, dictators, drug cartels, tax cheats or any piece of garbage with dollar. They are as guilty as the people they protect.
I believe it is time for us to call them out. We should be putting much more pressure on Switzerland to turn over names of people who took money out of the country to avoid paying taxes. We should not trade with them and we should ask other countries not to trade with them.
During World Wars I & II they were cowards who profited from being neutral.
Why are we so soft on white collar criminals? I believe they do more damage to society than criminals with guns. They destroy trust in institutions that we rely on throughout society whether it is government, bankers, corporations, unions or Wall Street. Once trust is lost the whole system starts to breakdown.
I believe it is time for us to call them out. We should be putting much more pressure on Switzerland to turn over names of people who took money out of the country to avoid paying taxes. We should not trade with them and we should ask other countries not to trade with them.
During World Wars I & II they were cowards who profited from being neutral.
Why are we so soft on white collar criminals? I believe they do more damage to society than criminals with guns. They destroy trust in institutions that we rely on throughout society whether it is government, bankers, corporations, unions or Wall Street. Once trust is lost the whole system starts to breakdown.
Posted by dennyinusa
7th Sep
-1
Votes
U.S.Downgrade
With a $16 Trillion national debt (one-third of it added during the Obama administration) and no budget, the rest of the world knows that the U.S. is not serious about deficit reduction, even if the U.S. voters do not.
Posted by bb_apptix
10th Sep