regime change
American Economics Thread
- Thread starter Bernard
- Start date
supercat
Major
This does not sound good.
For those who are wondering why there is a strike by railroad workers:
For those who are wondering why there is a strike by railroad workers:
A look into the American worker's mindset.
The deficit in the movement of goods between the United States and China narrowed significantly in the latest report, falling 22.6% to $28.9 billion from $37.3 billion, one factor in the smaller trade gap increase.
Although most of that narrowing was due to a 31.3% jump in the export of US goods to China, compared to September, a 9.5% decline in US imports of Chinese goods was also a factor in the smaller trade deficit between the two countries.
The deficit with China decreased $6.0 billion to $26.1 billion in October. Exports increased $1.4 billion to $13.6 billion and imports decreased $4.6 billion to $39.7 billion.
Although most of that narrowing was due to a 31.3% jump in the export of US goods to China, compared to September, a 9.5% decline in US imports of Chinese goods was also a factor in the smaller trade deficit between the two countries.
The deficit with China decreased $6.0 billion to $26.1 billion in October. Exports increased $1.4 billion to $13.6 billion and imports decreased $4.6 billion to $39.7 billion.
manqiangrexue
Brigadier
Don't be afraid to post the titles, guy. Here's the title of the article you cited:
US trade deficit edged up to $78.2 billion in October
Weak U.S. goods exports weigh on trade deficit
- Trade deficit rises 5.4% to $78.2 billion in October
- Exports fall 0.7%; imports increase 0.6%
Here's another cool article:
China’s Trade Surplus Hits Record But Slowdown Risks Remain
- Nation’s trade balance climbed to about $101 billion in July
- Exports grew 18%, beating economists’ estimates for 14.1% gain
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manqiangrexue
Brigadier
While the US is going all in getting its people to red-faced hating China, the CCP hasn't even mobilized its people yet. If they do, American exports to China can completely collapse. And before that, China proves that even without the US, its trade surplus still grows while the US proves that with or without China, its trade deficit does as well... Anyway, let's check the bigger picture by year instead of month:
China Trade Surplus and US Deficit Hit New Records driving Global Instability
- China’s global trade surplus is heading for a new all-time high this year. Based on the first seven months of data, we estimate the full-year surplus will reach a record $886 billion.
- The U.S trade deficit will also set records this year, at an estimated $1.13 trillion trade deficit and a $1.34 trillion goods trade deficit.
- The U.S. and China continue to mirror each other on trade, with each country posting figures over $100 billion in a single month for the first time ever: a $107.7. billion deficit for the U.S. in March this year, and a $101.3 billion surplus for China in July.
- However, the Section 301 tariffs have cut China’s share of U.S. imports from 22% five years ago to 17% this year, reducing U.S. dependence on China.
- The record China trade surplus and U.S. trade deficit are leading to worsening global imbalances, as acknowledged by the IMF in an August report. Global imbalances increase the risk of global financial crises or depressions.
- The growing U.S. trade deficit continues to deprive the U.S. of good jobs and good industries. It depresses productivity growth, contributes to stagnant household incomes, and growing income inequality.
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Hello sleepy, nice to see you here again. I wonder how long you'll last this time.
Would the CPC hurry it up already and mobilize the Chinese people. Its time the US gets a taste of its own medicine.
manqiangrexue
Brigadier
I've touched upon this before for why the CCP might have not done that even decades ago. In the beginning, it was the observation that America's friends get richer and richer while America's enemies got poorer and poorer. So to avoid this trap that would preserve American hegemony, China had to tone down and hide its hostilities against the US until it became a peer power. After that, it became apparent that people driven by hate are typically much less successful than those driven by greed and positive energy and countries made of successful people are more powerful/competitive than those made of angry less successful people even if those successful people are somewhat less focused on national power and international rivalry. It's much better for China to have droves of people eager to study abroad and to have many of them come home with what they've learned than people who would boycott everything Western, or at least that was the technological power dynamic before.
The stark contrast is North Korea, a country in which every citizen can give a united middle-finger to the West. Anybody seen doing any kind of business with an enemy country would probably be beaten to death by his peers if s/he were not legally executed. You have a nation of very loyal people but their hatred took away all their oppertunities to develop and grow with the world.
China didn't have the best tools or resources to train our students before so in order for them to accept foreign training, their attitudes could not be overly hostile. Now that the dynamic has changed, the need is much less, but we still see in today's modern world that countries and people who act to spite others (like the EU with Russia and the US with China) tend to harm themselves much more while those who are focused on self-development instead of fighting a zero-sum game tend to thrive (like China). Therefore, it was probably decided that it's much better for Chinese people to continue to put self-development first over any hate-fueled international rivalry. Although if hostilities get near or reach military conflict, it will likely not last.
I think one can have both though: cultivating a culture of deep distrust of the West yet see studying abroad as a necessary evil to take back advanced knowledge. Chinese people can also put on a polite fake persona when they are around westerners to put them at ease, it's what most westerners do best anyway.