When you said that we buy 80 percent of their stuff, do you mean to say that we buy 80% of their exports, or 80% of the gross domestic production of the entire nation?
The first seems unlikely, the second absolutely preposterous. What are your sources?
Actually, exports account for about thirty percent of China’s production.
Of the thirty percent of their production that they export, we buy seventeen percent. Which is about five percent of GDP.
Five is not eighty.
[quote]Varqanir wrote:
When you said that we buy 80 percent of their stuff, do you mean to say that we buy 80% of their exports, or 80% of the gross domestic production of the entire nation?
The first seems unlikely, the second absolutely preposterous. What are your sources?[/quote]
Not their stuff. The US Consumes a lot more than any other place on the planet combined. I will say it has started to come down the past decade. The rest of the world is coming up. I do not think we are going down we have just stagnated.
The top 20% of wealthiest nations consume 80% of the goods. Also a baby born in the US will consume 20 times what an African or Indian will consume.
Edit: wrong link.
In fact, China’s biggest trade partner is the European Union.
These are China’s biggest customers. The numbers are the amount of dollars, in billions, that each country or region spent on Chinese crap in 2011.
European Union 356
United States 324
Hong Kong 268
ASEAN 170
Japan 148
South Korea 82
India 50
Russia 38
Taiwan 35
So yeah, China might cry a few tears if we stopped spending billions of dollars of THEIR borrowed money to buy THEIR products, but it is decidedly not the case that they wouldn’t have anyone else to sell to.
[quote]Varqanir wrote:
In fact, China’s biggest trade partner is the European Union.
These are China’s biggest customers. The numbers are the amount of dollars, in billions, that each country or region spent on Chinese crap in 2011.
European Union 356
United States 324
Hong Kong 268
ASEAN 170
Japan 148
South Korea 82
India 50
Russia 38
Taiwan 35
So yeah, China might cry a few tears if we stopped spending billions of dollars of THEIR borrowed money to buy THEIR products, but it is decidedly not the case that they wouldn’t have anyone else to sell to. [/quote]
Hong Kong should be taken out because that is part of China. Now the EU what is the breakdown. I think Germany and Britain are the safest bets to get more trade. France, Spain, Italy, and Greece not so much.
I still think the US has better credit that all those countries combined, but with that said, we have to get our debt under wraps or we will be going down the path of Greece.
[quote]dmaddox wrote:
[quote]Varqanir wrote:
In fact, China’s biggest trade partner is the European Union.
These are China’s biggest customers. The numbers are the amount of dollars, in billions, that each country or region spent on Chinese crap in 2011.
European Union 356
United States 324
Hong Kong 268
ASEAN 170
Japan 148
South Korea 82
India 50
Russia 38
Taiwan 35
So yeah, China might cry a few tears if we stopped spending billions of dollars of THEIR borrowed money to buy THEIR products, but it is decidedly not the case that they wouldn’t have anyone else to sell to. [/quote]
Hong Kong should be taken out because that is part of China. Now the EU what is the breakdown. I think Germany and Britain are the safest bets to get more trade. France, Spain, Italy, and Greece not so much.
I still think the US has better credit that all those countries combined, but with that said, we have to get our debt under wraps or we will be going down the path of Greece.
[/quote]
Isn’t Hong Kong included on the list because it is a Special Administrative Region? It has its own government, legal system, monetary system, etc.
[quote]GrizzlyBerg wrote:
[quote]dmaddox wrote:
[quote]Varqanir wrote:
In fact, China’s biggest trade partner is the European Union.
These are China’s biggest customers. The numbers are the amount of dollars, in billions, that each country or region spent on Chinese crap in 2011.
European Union 356
United States 324
Hong Kong 268
ASEAN 170
Japan 148
South Korea 82
India 50
Russia 38
Taiwan 35
So yeah, China might cry a few tears if we stopped spending billions of dollars of THEIR borrowed money to buy THEIR products, but it is decidedly not the case that they wouldn’t have anyone else to sell to. [/quote]
Hong Kong should be taken out because that is part of China. Now the EU what is the breakdown. I think Germany and Britain are the safest bets to get more trade. France, Spain, Italy, and Greece not so much.
I still think the US has better credit that all those countries combined, but with that said, we have to get our debt under wraps or we will be going down the path of Greece.
[/quote]
Isn’t Hong Kong included on the list because it is a Special Administrative Region? It has its own government, legal system, monetary system, etc.[/quote]
Yes, but China could do away with that at any moment. I think China leaves it alone because they are learning how to do Capitalism themselves. I have read that China and India are more Capitalistic than the US, and they are growing much faster because of it.
I don’t believe we count the gross democratic product of Guam, American Samoa, Puerto Rico and our other protectorates as our own GDP, nor are exports and imports to and from these protectorates necessarily counted as domestic or interstate commerce. Hong Kong is a vastly different market than China proper, with a very different tax structure, banking structure and --notably-- a different currency than China has. So it properly should be counted as a foreign market. Just as Taiwan should, even though China definitely would consider Taiwan to be “part of China”.