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America's failed "trade" experiment with China: More than $300 billion imbalance in 2013.
US Census Bureau ^ | 2/6/2014 | (website link)

Posted on 02/06/2014 6:49:10 AM PST by Cringing Negativism Network

Today is the day, that our trade figures were released for 2013.

Once again, America has failed to gain any appreciable trade volume, vs China.

Go into any American store, look on any shelf, and all the stuff is "Made in China".

The big problem is: in China, all the things are "Made in China" as well.

(Excerpt) Read more at census.gov ...


TOPICS: Business/Economy
KEYWORDS: america; china; trade
OK the 2013 trade balance with China is in today:

China exports to America: 440 Billion dollars.

America exports to China: 122 Billion dollars.

Every year, America buys more, and more, and more from China.

However we don't sell stuff to China.

This "free trade" experiment is a large failure. Bring back jobs to America.

Now.

1 posted on 02/06/2014 6:49:10 AM PST by Cringing Negativism Network
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To: Cringing Negativism Network
Another Clinton legacy.
2 posted on 02/06/2014 6:52:05 AM PST by liberalh8ter (The only difference between flash mob 'urban yutes' and U.S. politicians is the hoodies.)
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To: liberalh8ter

The TPP will fix it.


3 posted on 02/06/2014 6:59:35 AM PST by Wolfie
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To: Cringing Negativism Network

Wait until an Earth quake strikes Beijing. Bu bye US bonds.


4 posted on 02/06/2014 7:01:04 AM PST by lavaroise (A well regulated gun being necessary to the state, the rights of the militia shall not be infringed)
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To: liberalh8ter

“Another Clinton legacy. “

Not really. Give China a little credit here.

China’s top income tax bracket is 25%. China is now a net food exporter as they have modernized their farming and still have cheap farm labor. Chinese infrastructure has made massive improvements leading to higher productivity. China spends maybe 1/5 what the US does on military. China has a minimal safety net when compared to the massive US welfare state. China has a really strong work ethic and has minimal exposure to rap, hollywood, or gangsta stuff.

I don’t think Clinton is at fault here.


5 posted on 02/06/2014 7:01:48 AM PST by staytrue
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To: liberalh8ter

I’m sorry, that is not correct.

Our trade deficit with China has skyrocketed every year, since Clinton was president.

We (both parties) have sold out American workers. On this issue, Bush was every bit as bad, and Obama is just as bad as well.

Nobody is taking a single stand for America.

Look at our trade balance on the chart at the link. (it’s a government site, just fyi)

It is ridiculous how completely China dominates our trading relationship.


6 posted on 02/06/2014 7:02:30 AM PST by Cringing Negativism Network ( http://www.census.gov/foreign-trade/balance/c5700.html#2013)
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To: Cringing Negativism Network

The USA would be very competitive is we reformed welfare, food stamps, the school system, reduced our miltary, and eliminated the black ghetto culture as a lifestyle.


7 posted on 02/06/2014 7:04:26 AM PST by staytrue
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To: Cringing Negativism Network

“We (both parties) have sold out American workers.”

I think this is half the story as corporate america went overseas for a better deal on taxes, labor law, tort law, work ethic, labor costs, and OSHA and EPA regulations.

The other half of the story is that the underclass of the USA has a terrible work ethic and really won’t work under almost any circumstances. Furthermore, govt. has also been a large part of the problem.


8 posted on 02/06/2014 7:08:20 AM PST by staytrue
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To: Cringing Negativism Network

Who cares about trade imbalances? There is no theoretical reason to care about them. The fact is that Americans get cheaper goods from China which allows them to have more disposable income.


9 posted on 02/06/2014 7:10:38 AM PST by impimp
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To: staytrue

I agree with your second point, but I also am strongly on the side that we have lost control of our trade balance.

America needs to make things right here.

China is a growing military challenge.

We cannot maintain a world strategic balance, when we are simply buying everything from China.

Our defense budgets are now maxed out. Our economy cannot continue to grow.

China has five times America’s population.

We need jobs. And we need a positive trade balance.

America bring back American jobs.


10 posted on 02/06/2014 7:11:39 AM PST by Cringing Negativism Network ( http://www.census.gov/foreign-trade/balance/c5700.html#2013)
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To: staytrue
My reference was to Clinton's granting China MFN status.
11 posted on 02/06/2014 7:21:40 AM PST by liberalh8ter (The only difference between flash mob 'urban yutes' and U.S. politicians is the hoodies.)
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To: Cringing Negativism Network
My reference was to Clinton's granting China MFN status.
12 posted on 02/06/2014 7:22:24 AM PST by liberalh8ter (The only difference between flash mob 'urban yutes' and U.S. politicians is the hoodies.)
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To: liberalh8ter

I am not directly contradicting you, I agree with you that Clinton was bad on China trade.

My point is, Bush was just as bad, and Obama is just as bad.

Nobody is doing anything.

Our trade balance with China gets worse, and worse.

Every year it just gets worse.

My point is, our side is selling out to China.

Bring back American production. Now.


13 posted on 02/06/2014 7:33:09 AM PST by Cringing Negativism Network ( http://www.census.gov/foreign-trade/balance/c5700.html#2013)
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To: Cringing Negativism Network

We can make up for it in volume.

To the “bring back American jobs” crowd I understand. However, it will take either two things. One is to have an empowered central government that forces companies and people to produce products. The people won’t syand for that and I sure as heck don’t want the government to expand any more than it has. Two, is to cut back government power over the economy through the tax and regulation structures. And we all know that won’t happen. We can’t squeeze the toothpaste back in this tube.


14 posted on 02/06/2014 7:40:08 AM PST by Organic Panic
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To: Organic Panic

I suggest one, universal trade tariff.

On everything imported. Everything. Oil. Food. Manufactured goods.

If it is imported into America, it pays one single tariff rate. However this is important, there are no exceptions.

Anything imported, is subject to one single tax rate.

The question is only, what is that tariff rate?

What we are doing now, is simply selling-off everything in America.

This is a way to collapse, as a country.

We need to make things, right here in America.


15 posted on 02/06/2014 7:44:36 AM PST by Cringing Negativism Network ( http://www.census.gov/foreign-trade/balance/c5700.html#2013)
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To: liberalh8ter

“Another Clinton legacy”, actually you can trace this back to late-Reagan and Bush 41.


16 posted on 02/06/2014 7:57:31 AM PST by US Navy Vet (Go Packers! Go Rockies! Go Boston Bruins! See, I'm "Diverse"!)
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To: Cringing Negativism Network

You can thank Nixon for selling us and the Chinese people out. He promised and business leaders have promised since then that it would make China more like us and it hasn’t. Not to mention they steal our trade secrets and dump their unsafe goods on our shores.


17 posted on 02/06/2014 8:13:44 AM PST by Sam Gamgee (May God have mercy upon my enemies, because I won't. - Patton)
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To: impimp
"Who cares about trade imbalances? There is no theoretical reason to care about them. The fact is that Americans get cheaper goods from China which allows them to have more disposable income."

Please explain then why US per-capita disposable income has been on a fairly steady downward trajectory since China was admitted into the WTO.

Fact is, "free" trade with China has created so much slack in our domestic economy that the lower prices don't come anywhere near compensating for the income US households have lost.
18 posted on 02/06/2014 9:41:33 AM PST by CowboyJay (Cruz'-ing in 2016!)
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To: staytrue

One point about Welfare state. Look at Europe, USA, these economies were developed well before China (we could mention other nations too). The growth period is normal and only followed by welfare state when peoples lifestyles go lower.
Of course this applies to unemployment and safety net items for Americans. The more apt welfare state in my eyes is allowing illegals any benefits at all. These are people with absolutely no claim on our wealth. China as currently constituted will never have that. They very well may have some sort of large program in 5 or 10 years for their own citizens. Economies have to mature to some extent for that to happen.


19 posted on 02/06/2014 9:42:07 AM PST by wiggen (The teacher card. When the racism card just won't work.)
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To: CowboyJay

When you buy a Chinese made product you have to pay for it twice, once to WALMART and then taxes to the unemployed manufacturing workers laid off from off shoring.


20 posted on 02/06/2014 9:47:12 AM PST by central_va (I won't be reconstructed and I do not give a damn.)
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To: CowboyJay

All in trade balance month over month was worse, nonfarm productivity stronger than projected with prior months revised up and unit labor costs were weaker than expected and revised down from prior month.
So better productivity and cheaper labor costs simply mean less workers. At some point,when we’re all poor here, the flows will reverse. China won’t be able to sell to us. They will have to support us since they own so much of our debt.
Of course as i said this happens after we no longer have workers who can afford anything.


21 posted on 02/06/2014 9:48:00 AM PST by wiggen (The teacher card. When the racism card just won't work.)
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To: Cringing Negativism Network

Good luck finding bananas. Say good bye to salad in the winter time. Say good bye to any exports American companies sell abroad. When consumer spending drops to zero because nothing can be afforded then what? Ultimately anything that empowers government control is not good for us. A trade war is not good for anyone. The only realistic solution is to make the USA attractive to manufacture goods here.


22 posted on 02/06/2014 10:01:24 AM PST by Organic Panic
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To: Cringing Negativism Network

The global free trade consortium (NAFTA, GATT, WTO) want equilibrium in the system, they want China to be equal to us. China is a culture that has been around for thousands of years (we are only pushing about 250 years). The Chinese are strategic. They created a honey pot of cheap labor with no regulations and relied on our short term greed and stupidity to transfer our manufacturing/technology base over to them, all in the name of profit.

Now that the inevitable outcome to decades of us strip-mining our economy for profit has finally started to play out for the average American, the guys that executed this strategy don’t care. They will just move over to Asia and begin milking that future consumer market. If America is to rebound, the free-market types need to appreciate that not everything is tied to “more and more” profit. Strategic long term viability must always be part of the decision making for a healthy economy that can be passed on to future generations. The Chinese understand this, we do not.


23 posted on 02/06/2014 10:05:59 AM PST by Gen-X-Dad
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To: central_va
When you buy a Chinese made product you have to pay for it twice, once to WALMART and then taxes to the unemployed manufacturing workers laid off from off shoring.

And a third time when you go to the gas station or grocery store. Globalization has caused commodity prices to nearly quadruple over the last 15 years.
24 posted on 02/06/2014 11:50:27 AM PST by CowboyJay (Cruz'-ing in 2016!)
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To: CowboyJay

http://research.stlouisfed.org/fred2/series/A229RX0

wrong


25 posted on 02/06/2014 1:13:28 PM PST by impimp
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To: impimp
Right...

FRED: Real Median Household Income in the United States
26 posted on 02/06/2014 1:49:28 PM PST by CowboyJay (Cruz'-ing in 2016!)
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To: CowboyJay

I am right and you are wrong! Deal with it.

You said “US per-capita disposable income has been on a fairly steady downward trajectory since China was admitted into the WTO”.

My numbers show it is going up. Your numbers do not discuss disposable income for the economy at large. Your numbers only relate to the MEDIAN of disposable income. Be careful when you say things that can’t be backed up. If you had said MEDIAN then you wouldn’t have been called out for falsehoods.


27 posted on 02/06/2014 2:07:48 PM PST by impimp
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To: impimp

You parse like a Clinton.

The lowered price of manufactured goods has not offset lost income and higher commodity prices due to liberalized trade with Asia for the VAST MAJORTY of Americans.

Better?


28 posted on 02/06/2014 2:14:58 PM PST by CowboyJay (Cruz'-ing in 2016!)
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