On Jul 25, 2007, at 6:20 PM, Marvin Gandall wrote:
> According to US International Trade Commission statistics, China is
> the US's
> fastest growing export market and is expected to overtake Japan as
> it's
> third largest this year. Despite its yawning and widely-publicized
> trade
> deficit with China, merchandise exports to China still rose by 187%
> between
> 2001-06, from $19b to $55b, a pace far outstripping exports to the
> US's
> other major trading partners.
187% from a low base! The U.S. deficit with China was $84 billion in 2000, and $233 billion in 2006. At that rate of growth it will take until 2067 for the U.S.-China trade to balance.
Doug