Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

China trade now bigger than US
http://www.telegraph.co.uk ^ | february 10, 2013 | Garry White

Posted on 02/10/2013 2:28:32 PM PST by lowbridge

China has leapfrogged the US to become the world’s biggest trading nation, bringing an end to the US’s post-war dominance of global commerce.

The total value of US exports and imports in 2012 was $3.82 trillion (£2.4 trillion), the US Commerce Department has revealed. China’s customs administration has already announced that the country’s total trade last year was worth $3.87 trillion.

“It is remarkable that an economy that is only a fraction of the size of the US economy has a larger trading volume,” Nicholas Lardy, a senior fellow at the Peterson Institute for International Economics in Washington, told Bloomberg. “The surpassing of the US is not because of a substantially undervalued currency that has led to an export boom,” Mr Lardy said, pointing out that Chinese imports have grown at a faster rate than exports since 2007.

Not only has China managed to post a larger total trading figure, but the breakdown of imports compared with exports also makes for favourable reading in Beijing. China had a full-year trade surplus of $231.1bn with the US posting a total 2012 trade deficit of $727.9bn.

Indeed, the Asian powerhouse looks set to table an even better performance in 2013, as trade accelerated substantially last month. Exports jumped 25pc on a year-on-year basis and imports were up 29pc in January, beating analysts’ expectations. However, the data is distorted by the timing of the Chinese New Year festivities.

(Excerpt) Read more at telegraph.co.uk ...


TOPICS: Business/Economy; Culture/Society; News/Current Events
KEYWORDS: china; chinatrade; singapore; singaporephotos; trade

1 posted on 02/10/2013 2:28:37 PM PST by lowbridge
[ Post Reply | Private Reply | View Replies]

To: lowbridge

Dear Leader Obama is pleased. BTW, I will not be holding my breath waiting for any of the propaganda media to report this.


2 posted on 02/10/2013 2:33:29 PM PST by austinaero
[ Post Reply | Private Reply | To 1 | View Replies]

To: lowbridge

The trade embargo starts the day the Dragon f’s up and starts a shooting war.


3 posted on 02/10/2013 2:35:51 PM PST by central_va (I won't be reconstructed and I do not give a damn.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: austinaero

REading some of the comments over at the Telegraph is rather depressing. It seems there is a general consensus that America is in decline. It is, surely, and due to the communists running the show right now. However, it’s disheartening to see foreign media outlets pointing it out..esp while the lapdog press in the U.S. pretends it’s not true.


4 posted on 02/10/2013 2:37:19 PM PST by austinaero
[ Post Reply | Private Reply | To 2 | View Replies]

To: austinaero

5 posted on 02/10/2013 2:40:40 PM PST by Dallas59 (America died a little bit more on 11/6/2012)
[ Post Reply | Private Reply | To 2 | View Replies]

To: lowbridge

Good. The rest of the world can hate the the EastAsian proxy of the Empire for a while instead of the USA.


6 posted on 02/10/2013 3:03:23 PM PST by TArcher
[ Post Reply | Private Reply | To 1 | View Replies]

To: lowbridge

But our business leaders told us that China couldn’t trade enough to decouple from the USA.


7 posted on 02/10/2013 3:06:32 PM PST by familyop (We Baby Boomers are croaking in an avalanche of rotten politics smelled around the planet.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: lowbridge

just curious - does the US still fund projects in China such as women’s rights, family planning, etc?? Does anyone know how much we give them, if any??


8 posted on 02/10/2013 3:06:49 PM PST by elpadre (AfganistaMr Obama said the goal was to "disrupt, dismantle and defeat al-hereQaeda" and its allies.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: lowbridge

just curious - does the US still fund projects in China such as women’s rights, family planning, etc?? Does anyone know how much we give them, if any??


9 posted on 02/10/2013 3:07:45 PM PST by elpadre (AfganistaMr Obama said the goal was to "disrupt, dismantle and defeat al-hereQaeda" and its allies.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: lowbridge
AND "I" HELPED!!!


10 posted on 02/10/2013 3:07:54 PM PST by bigheadfred
[ Post Reply | Private Reply | To 1 | View Replies]

To: lowbridge

It makes me feel so good that our leaders sold us out over the past 30 years. Thank you all so much. They got rich and we get declining wages, declining living standards, and declining net worth.

I hope they choke on their 30 pieces of silver.


11 posted on 02/10/2013 3:25:09 PM PST by Freedom_Is_Not_Free (Free goodies for all -- Freedom for none.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: lowbridge

I am sure our Free Trade Communists, who support total Free Trade with Communist China, will provide some spin on this

This is embarassing. I can still remember when you even suggested Free Trading with Communists got you put in jail for Treason

Put tariffs on the Communist Chinese and you will see this nonsense change


12 posted on 02/10/2013 3:29:52 PM PST by SeminoleCounty (GOP = Greenlighting Obama's Programs)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Dallas59

Nah started way before the commie Muslim traitor in chief.

This new world order stuff goes back at least to Daddy Bush. Nixon opened China.

The US China permanent most favored nation status under GW “Baby” Bush.

The fix is in. This was all set up decades ago to make the rich filthy rich.

We were sold out a long time ago.


13 posted on 02/10/2013 3:30:32 PM PST by Freedom_Is_Not_Free (Free goodies for all -- Freedom for none.)
[ Post Reply | Private Reply | To 5 | View Replies]

To: SeminoleCounty

I’m sure some protectionist “conservatives” will happen along and explain how we need to raise taxes on ourselves, instead of making it easier for manufacturers to manufacture.


14 posted on 02/10/2013 3:32:00 PM PST by 1rudeboy
[ Post Reply | Private Reply | To 12 | View Replies]


Freepers, your Contributions make every difference!
Please keep ‘em coming! Thank you all very much!

15 posted on 02/10/2013 3:41:05 PM PST by RedMDer (Support Free Republic)
[ Post Reply | Private Reply | View Replies]

To: lowbridge

Helping China become an economic power is,by far,the biggest mistake the West has made since the end of WWII.


16 posted on 02/10/2013 4:00:16 PM PST by Gay State Conservative ("Progressives" toss the word "racist" around like chimps toss their feces)
[ Post Reply | Private Reply | To 1 | View Replies]

To: AdmSmith; AnonymousConservative; Berosus; bigheadfred; Bockscar; ColdOne; Convert from ECUSA; ...

Thanks lowbridge.
"It is remarkable that an economy that is only a fraction of the size of the US economy has a larger trading volume," Nicholas Lardy... told Bloomberg. "The surpassing of the US is not because of a substantially undervalued currency that has led to an export boom," ...China had a full-year trade surplus of $231.1bn with the US posting a total 2012 trade deficit of $727.9bn.
China exports *are* due to devaluation, and that will continue; note that the Chinese trade surplus with the US is three times as high as its total trade surplus for 2012 -- this means the Chinese are importing from other countries to the tune of a half-trillion dollars. At least some of that is petroleum.


17 posted on 02/10/2013 7:29:20 PM PST by SunkenCiv (Romney would have been worse, if you're a dumb ass.)
[ Post Reply | Private Reply | View Replies]

To: Gay State Conservative
Helping China become an economic power is,by far,the biggest mistake the West has made since the end of WWII.

It was no mistake.

18 posted on 02/11/2013 9:12:36 AM PST by Count of Monte Fisto
[ Post Reply | Private Reply | To 16 | View Replies]

To: 1rudeboy
Free Traitors have absolutely ruined this country. They should be hanged from the nearest lamppost for treason. Paying a little more for goods because of tariffs is better than living under a bridge.

China has a protectionist trade policy. Its worked pretty good for them.


19 posted on 02/11/2013 9:21:28 AM PST by Count of Monte Fisto
[ Post Reply | Private Reply | To 14 | View Replies]

To: Count of Monte Fisto
Paying a little more for goods because of tariffs is better than living under a bridge.

Because we all know that less money in our pockets reduces the possibility that we'll end up living under a bridge. LOL

20 posted on 02/11/2013 9:35:25 AM PST by 1rudeboy
[ Post Reply | Private Reply | To 19 | View Replies]

To: austinaero

Living in this country is like living in the former Soviet Union, you can’t trust anything coming from the US media, and have to go to foreign press to get the truth.


21 posted on 02/11/2013 9:39:00 AM PST by dfwgator
[ Post Reply | Private Reply | To 4 | View Replies]

To: Gay State Conservative

It was the “China Card” that we used as a bulwark against the Soviets.


22 posted on 02/11/2013 9:40:32 AM PST by dfwgator
[ Post Reply | Private Reply | To 16 | View Replies]

To: Count of Monte Fisto

Compare with a before/after picture of Detroit.


23 posted on 02/11/2013 9:41:41 AM PST by dfwgator
[ Post Reply | Private Reply | To 19 | View Replies]

To: 1rudeboy
Tariffs are the Constitutional way of raising revenue for the federal government. Plus they are voluntary, don't buy the foreign made product don't pay the cost of the tariff. Progressive Marxists like you much prefer raising money with the compulsory progressive income tax. I'll take a voluntary consumption tax (tariff) over a mandatory income tax any day.
24 posted on 02/11/2013 9:44:54 AM PST by jpsb
[ Post Reply | Private Reply | To 14 | View Replies]

To: 1rudeboy
You have been a big fan of (globalist) economic policy of Clinton, Bush and Obama.

How is that working out? /s

25 posted on 02/11/2013 9:49:16 AM PST by jpsb
[ Post Reply | Private Reply | To 20 | View Replies]

To: jpsb
Tariffs are the Constitutional way of raising revenue for the federal government.

Which is not the same as saying, "Paying a little more for goods because of tariffs is better than living under a bridge." Thanks for playing.

26 posted on 02/11/2013 9:50:54 AM PST by 1rudeboy
[ Post Reply | Private Reply | To 24 | View Replies]

To: jpsb
We've seen the benefits of free trade and lived through the disasters of protectionism. Tonight I ask all our trading partners, developed and developing alike, to join us in a new round of trade negotiations to expand trade and competition and strengthen the global economy - and to begin it in this next year.
--Ronald Reagan, Progressive Marxist and Clinton, Bush and Obama-esque globalist.

27 posted on 02/11/2013 9:54:57 AM PST by 1rudeboy
[ Post Reply | Private Reply | To 25 | View Replies]

To: 1rudeboy
I’m sure some protectionist “conservatives” will happen along and explain how we need to raise taxes on ourselves, instead of making it easier for manufacturers to manufacture.

Maybe we can conjure up Madison, Jefferson and Washington's spirit to explain things to a Free Trade religious fanatic like you.

By the way, does China vs Japan bother you? (Hypothetically) I mean we can't go to war with China and still have their container ships mooring to US piers? Or are you that far gone...

28 posted on 02/11/2013 9:54:57 AM PST by central_va (I won't be reconstructed and I do not give a damn.)
[ Post Reply | Private Reply | To 14 | View Replies]

To: central_va

I’d like to see you explain how adding, say, a 20% tariff to Chinese ping-pong balls will prevent a war between China and Japan.


29 posted on 02/11/2013 9:57:37 AM PST by 1rudeboy
[ Post Reply | Private Reply | To 28 | View Replies]

To: dfwgator
It was the “China Card” that we used as a bulwark against the Soviets.

China didn't start its industrialization (in earnest,at least) until after Tienanmen Square in 1989,the same year the Berlin Wall fell.

30 posted on 02/11/2013 9:58:56 AM PST by Gay State Conservative ("Progressives" toss the word "racist" around like chimps toss their feces)
[ Post Reply | Private Reply | To 22 | View Replies]

To: 1rudeboy

Wasn’t my question dodge boy. Forget tariffs, can you ethically support free trade when one of out allies is at war with China? Answer the question coward.


31 posted on 02/11/2013 10:00:46 AM PST by central_va (I won't be reconstructed and I do not give a damn.)
[ Post Reply | Private Reply | To 29 | View Replies]

To: 1rudeboy

I normally support free trade, but there has to be a line drawn in some cases....For example, I think Free Trade with Nazi Germany and Tojo’s Japan would not have been in the US’s best interest...It comes down to the question of whether or not we consider China to be a potential enemy, or more importantly, do they consider us to be their enemy.


32 posted on 02/11/2013 10:01:19 AM PST by dfwgator
[ Post Reply | Private Reply | To 29 | View Replies]

To: Gay State Conservative

It didn’t happen overnight, but the groundwork started being laid after Jimmy Carter normalized relations with Beijing.


33 posted on 02/11/2013 10:02:28 AM PST by dfwgator
[ Post Reply | Private Reply | To 30 | View Replies]

To: 1rudeboy

Here is a follow up question. What if Japan and China get into a hot war. If Japan starts sinking Chink Container ships(yeah) are you going to cry foul? I most surely will not. So, whose side are you on? Free Traitors need to start thinking things thru.


34 posted on 02/11/2013 10:05:03 AM PST by central_va (I won't be reconstructed and I do not give a damn.)
[ Post Reply | Private Reply | To 29 | View Replies]

To: Count of Monte Fisto

Shanghai is an awesome spectacle, especially at night.


35 posted on 02/11/2013 10:06:16 AM PST by Mr. Jeeves (CTRL-GALT-DELETE)
[ Post Reply | Private Reply | To 19 | View Replies]

To: central_va
Wasn’t my question dodge boy.

Then why did you use question marks?

36 posted on 02/11/2013 10:06:35 AM PST by 1rudeboy
[ Post Reply | Private Reply | To 31 | View Replies]

To: 1rudeboy

You are big phony. Cowardice and being a traitor a qualities that seem to go hand in hand. Perhaps you are proof.


37 posted on 02/11/2013 10:14:45 AM PST by central_va (I won't be reconstructed and I do not give a damn.)
[ Post Reply | Private Reply | To 36 | View Replies]

To: central_va
If Japan starts sinking Chink Container ships(yeah) are you going to cry foul?

Frankly, I would laugh, and think to myself "good show, Nippon." And then run to my computer to try and find video of it.

38 posted on 02/11/2013 10:15:41 AM PST by 1rudeboy
[ Post Reply | Private Reply | To 34 | View Replies]

To: 1rudeboy
Frankly, I would laugh, and think to myself "good show, Nippon." And then run to my computer to try and find video of it.

We actually agree about something.

39 posted on 02/11/2013 10:18:12 AM PST by central_va (I won't be reconstructed and I do not give a damn.)
[ Post Reply | Private Reply | To 38 | View Replies]

To: central_va

You are just cute. Wrapping yourself in the flag (and that would be the Union flag), in order to justify more government intervention, an even bigger federal government, and higher taxes. For the children.


40 posted on 02/11/2013 10:19:43 AM PST by 1rudeboy
[ Post Reply | Private Reply | To 37 | View Replies]

To: 1rudeboy
A little less money in your pocket is better than no money in your pocket because your job was sent to China or some other third world pit.

There is a refinery near where I live that was recently shutdown. The men that worked there for years were on the local news crying because they didn't know how they were going to feed their families. The refinery is to be disassembled and send to India to be rebuilt and put back into operation.

This is all part of the UN Agenda 21 deindustrialization program for the United States. Americans that go along with this or even profit from it are traitors and deserve to be sent to the gallows.

41 posted on 02/13/2013 11:06:19 AM PST by Count of Monte Fisto
[ Post Reply | Private Reply | To 20 | View Replies]

To: Count of Monte Fisto
A little less money in your pocket is better than no money in your pocket because your job was sent to China or some other third world pit.

Pretty funny, how a "little less money" (translated in millions of dollars) in everyone's pocket, can "save" thousands of jobs (apart from the ones that are lost as a result). Just government doing what it does best.

It would be far more efficient for the government to take our money and just cut those folks a check. Oh wait, that would be called welfare . . . the government can't run that, either.

42 posted on 02/13/2013 11:13:26 AM PST by 1rudeboy
[ Post Reply | Private Reply | To 41 | View Replies]

To: 1rudeboy
It would be far more efficient for the government to take our money and just cut those folks a check.

Wrong. Taking raw materials out of the ground and making the things people need creates wealth. It generates money. Protecting that wealth generation from criminals and foreign interests is what a national government is suppose to do. We used to do that in this country until Free Traitors moved our capacity to create wealth to Red China and other third world hell holes. They ruined this country.

If American patriots ever get control of the national government again we are going to hold mass trials of Free Traitors and their supporters, find them guilty, and hand them over to the executioner.

43 posted on 02/13/2013 2:27:16 PM PST by Count of Monte Fisto
[ Post Reply | Private Reply | To 42 | View Replies]

To: Count of Monte Fisto
Wrong. Taking raw materials out of the ground and making the things people need creates wealth.

Especially when government makes them more expensive.

44 posted on 02/13/2013 3:23:37 PM PST by Toddsterpatriot (Math is hard. Harder if you're stupid.)
[ Post Reply | Private Reply | To 43 | View Replies]

To: Count of Monte Fisto
Taking raw materials out of the ground and making the things people need creates wealth. It generates money.

Drawing some lines on paper, such as an architect does, also "creates wealth." Just pointing out a common economic myth. (Not equating goods with services).

And will you stow the the totalitarian language? Not all protectionists are Mao-wannabes. Don't make them all look like fools.

45 posted on 02/13/2013 3:48:40 PM PST by 1rudeboy
[ Post Reply | Private Reply | To 43 | View Replies]

To: 1rudeboy
Drawing some lines on paper, such as an architect does, also "creates wealth." Just pointing out a common economic myth. (Not equating goods with services)

An architect doesn't create wealth. His drawings have value, which is different from wealth, because it makes the real economy more efficient.

Demanding the Federal Government fulfill its Constitutional obligation to collect duties and tariffs and to execute traitors after a fair trial is not Maoist or totalitarian.

46 posted on 02/14/2013 2:46:31 PM PST by Count of Monte Fisto (Free Traitors have ruined the country)
[ Post Reply | Private Reply | To 45 | View Replies]

To: Count of Monte Fisto

He gives his drawings away for free? Interesting economic theory, there. Have you been published?


47 posted on 02/14/2013 2:52:48 PM PST by 1rudeboy
[ Post Reply | Private Reply | To 46 | View Replies]

To: Count of Monte Fisto
Let's say I shovel horse manure for a living. I'm creating "value" that makes the economy "more efficient?" (Even though I am paid for my labor, and then can do with my "wealth" as I please).

But the guy who takes my horse manure, mixes it and adds a few ingredients, is creating wealth, but not value?

48 posted on 02/14/2013 3:01:10 PM PST by 1rudeboy
[ Post Reply | Private Reply | To 46 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson