Obamination: U.S.-China Trade Deficit Now Largest In World History...

Discussion in 'Politics' started by paulitician, Feb 11, 2012.

  1. paulitician
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    paulitician Platinum Member Supporting Member

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    'Hope & Change' is cool huh?


    Chinese Vice President Xi Jinping is meeting U.S. President Barack Obama in the White House on Feb 14, Valentine’s Day. Their talks are likely to turn on Tibet and trade. But China’s veep isn’t expected to deliver a box of chocolates to the American president. China’s enormous trade advantage, now the largest nation-on-nation trade deficit in the history of the world, has put it in the enviable negotiating position of being able to say “bu” — that is, “no” — to most American demands.

    The U.S trade deficit with China today is 28 times larger than it was during the Reagan era, according to new figures released by the U.S. Census Bureau. That daunting deficit has grown by 18 percent per year since China first entered the World Trade Organization in 2001.

    Census figures now show $103.8 billion in U.S. exports to China during 2011, and $399.3 million in imports, a stunning $295.5 billion difference.

    America’s political, policy and business leaders aren’t doing much to address the shocking statistics that suggest a real erosion of America’s once-strong manufacturing and technological advantage. Terrorists tore down the twin towers in lower Manhattan a little over a decade ago, the symbols of American economic dominance of the world. Now the Chinese are providing the glass for the exterior of the new world trade center.



    Read more: US China Trade Deficit | Largest In World History | The Daily Caller
     
  2. Oddball
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    Oddball BANNED Supporting Member

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    Big deal...I have the same "trade deficit" with the grocery store.

    America has had the same types of trade deficits, albeit not as large, with Japan, Indonesia, Hong Kong and Taiwan....How have those nations, and America for that matter, fared as being our trading partners?
     
  3. occupied
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    occupied Gold Member

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    Our manufacturing base has been eroding for decades. Anyone remember when any effort to stem the tide was greeted by cries of "protectionism is wrong/destructive/evil/communism"? The "free trade" neo-cons wanted our workers to compete directly with Chinese workers to drive down wages and break the unions, what we have now is the result. Blame it on Obama? What a laugh, our manufacturing base was decimated before he even entered politics.
     
  4. paulitician
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    paulitician Platinum Member Supporting Member

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    Yeah, and remember when the Clintons were busted several times for the Chinese funding their Campaigns? And remember when Obama named GE CEO Jeffrey Immelt as his "Jobs Czar?' A douche bag who has Outsourced Thousands & Thousands of American Jobs over the years? And remember when you Democrats used to rant & rave about how awful the Chinese were? And remember when you guys stopped ranting & raving about the Chinese as soon as your guy became President? Ahh, probably not. Go figure?
     
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    Last edited: Feb 11, 2012
  5. Oddball
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    Oddball BANNED Supporting Member

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    Pure populist bullshit.

    Like agriculture, American manufacturing has become highly mechanized....More is produced with less manpower.

    The days of putting the same nut on the same bolt for 30 years, after which you get the gold watch and paid to not work, are over...Deal with it.
     
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  6. DontBeStupid
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    DontBeStupid Look it up!

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    Pauli has clearly never heard of inflation. If he had, he would know that the trade deficit with China has hit many an "all-time high" because that's what happens over time with inflation. This is why it's better to compare it to GDP and use that number. But of course, Pauli doesn't want to do that. Why?

    [​IMG]
    2011 Annual Trade Deficit 3.7% of U.S. GDP, China Goods 2% | The Economic Populist

    Because then he would have to admit that we've actually been in worse situations.
     
  7. paulitician
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    paulitician Platinum Member Supporting Member

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    Nah, it's called 'Hope & Change.' :(
     
  8. DontBeStupid
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    DontBeStupid Look it up!

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    Typical Pauli response.
     
  9. paulitician
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    paulitician Platinum Member Supporting Member

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    Yes, a massive Trade Deficit with China is now 'good' according to you Obama-Bots. We get it. :cuckoo:
     
  10. occupied
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    occupied Gold Member

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    I get it, you think I am a partisan democrat, Clinton sucked balls in the trade agreement department and was very much a free trade neo-con, so what? How does that in any way refute what I said about us being on the shitty end of 30-40 years of bad trade policy?
     

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