> > Everything from building cranes, bridge
> tresses to a screwdriver is made in > China.
> Where do you think their economic development
> came from? Some Chinese > magic trick? As for
> the USA, there is no there ... there. As some
> on this list know I live down in Argentina.
> Last week, a friend and colleague from
> Sacramento, CA was emailed me about "where did
> the jobs go?", and pasted the url below. Not
> Made in America at the Root of U.S. Economic
> Crisis
> http://www.marketoracle.co.uk/Article30466.html
> I replied by telling that the American jobs
> went to China, of course, and proceeded to list
> the "Made in USA" things that I own down here
> in Argentina... PC (netbook)? no, Assembled in
> Venezuela, with Chinese components. LG LCD?
> Assembled in Argentina, from Chinese
> components. Fridge? a Samsung fully Made in
> Korea. Oh wait, there´s two things Made in USA
> that I still own... a Black and Decker drill
> passed by my old man. He bought it in 1978 or thereabouts.
Didn't we go through this very recently?:
http://lbo-news.com/2011/08/09/made-in-china-3/
>Here’s something that should revise a lot of
>clichés, though it probably won’t: less than 3%
>of U.S. consumption expenditures are on goods
>made in China. Almost 90% are made in the USA.
>Of course, the domestic total is boosted by
>servicesbut even durable goods are 12% China,
>67% U.S. And less than half the value of Chinese
>imports go to China55% of the money spent on
>“Chinese” goods represent processing and other
>services (like distribution and retailing) provided in the U.S.
>
>This info comes from a new
><http://www.frbsf.org/publications/economics/letter/2011/el2011-25.html?utm_source=home>paper
>by Galina Hale and Bart Hobijn of the San
>Francisco Fed. Their point was to show that
>Chinese inflation has minimal influence on U.S.
>price levels, which is persuasive. But it’s also
>an antidote to the widespread belief that the
>U.S. is hollowed out and all the action is in
>China. We’ve got problems, yes, but we’ve also
>got resourcesresources we can do a lot better with than we are now.