- Oct 7, 2011
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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, Valentines Day. Their talks are likely to turn on Tibet and trade. But Chinas veep isnt expected to deliver a box of chocolates to the American president. Chinas 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.
Americas political, policy and business leaders arent doing much to address the shocking statistics that suggest a real erosion of Americas 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
Chinese Vice President Xi Jinping is meeting U.S. President Barack Obama in the White House on Feb 14, Valentines Day. Their talks are likely to turn on Tibet and trade. But Chinas veep isnt expected to deliver a box of chocolates to the American president. Chinas 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.
Americas political, policy and business leaders arent doing much to address the shocking statistics that suggest a real erosion of Americas 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