The Balance Of Trade
What is the balance of trade? The balance of trade is the monetary value of exports and imports of an economy over a given period of time. A country can have a trade surplus or it can have a trade deficit.
Source Of Chart: Wikipedia
If the U.S. trade deficit is not harmful to the United States, why then is the U.S. in so much debt? China and Japan exclusively own 44.80% of U.S. debt.
Note: China and Japan are the leading countries contributing to U.S. trade deficits. Is this correlation just a coincidence?
Top 10 Foreign Owners Of U.S. Debt (Jan 2009)
Debt Owner(s) / Billions Of US Dollars $$
1. China / 739.6 *
2. Japan / 634.8 *
3. OPEC / 186.3
4. Caribbean Banks / 176.6
5. Brazil / 133.5
6. United Kingdom / 124.2
7. Russia / 119.6
8. Luxembourg / 87.2
9. Taiwan / 73.3
10. Hong Kong / 71.7
Top 10 Countries U.S. Trade Deficits (Jan 2009)
Country / Millions Of US Dollars $$
1. China / - 20,569.89 *
2. Japan / - 4,302.13 *
3. Mexico / - 2,684.00
4. Canada / - 2,489.90
5. South Korea / - 1,936.51
6. Germany / – 1,664.65
7. Ireland / – 1,549.12
8. Taiwan / - 1,340.61
9. Saudia Arabia / - 1,290.57
10. Italy / - 1,248.75
Total Trade Balance Of January 2009 = deficit of $36 billion
Source: The New York Times (March 14, 2009)
BEIJING — The Chinese prime minister, Wen Jiabao, spoke in unusually blunt terms on Friday about the “safety” of China’s $1 trillion investment in American government debt, the world’s largest such holding, and urged the Obama administration to offer assurances that the securities would maintain their value.
Congress denies that trade imbalance destroys jobs, yet there is never any real data ever presented to the public. Former presidents have denied that there have been job losses as a result from trade deficit. This is very problematic.
Source: U.S. Dept. of Commerce & U.S. Bureau of Labor Statistics
1979 – 1995 Statistics
Imports: $212 billion – $749 billion = $1.7 trillion trade deficit
Manufacturing Jobs: 21 million – 18.4 million = 2.6 million job losses
The US trade deficit hit a record high of $817.3 billion in 2006.
US-China Trade Deficit Hit Record High In 2013
The US-China trade deficit for 2013 hit a record high, as both export and import totals increased, according to the US Department of Commerce.
Exports for the year totaled $122 billion and imports totaled $440.4 billion, up from $110.5 billion and $425.6 billion in 2012, respectively, according to the figures released on Thursday. Exports increased primarily in civilian aircraft, engines, and equipment, and imports increased primarily in cell phones and household goods.
Source: US-China trade deficit hit record high in 2013 — ChinaDaily
US Trade Deficit Hits Another High In 2014
The U.S. trade deficit climbed to the highest level in five months in February as demand for American exports fell while imports increased slightly.
The deficit increased to $42.3 billion, which was 7.7 percent above the January imbalance of $39.3 billion, the Commerce Department reported Thursday.
Source: US Trade Deficit Hits $42.3 Billion in February — ABC News
[...] get past the illusions that are created by the propagandists to get a grip on the subject matter. Trade imbalance, high unemployment, and failed fiscal policy are themes that should be covered and are covered in [...]
Hello guys if you can’t earn any money online try – bluehand roulette system – it earns me decent
money everyday, just google it
I read a lot of interesting content here. Probably you spend a lot
of time writing, i know how to save you a lot of time, there
is an online tool that creates unique, SEO friendly
posts in seconds, just search in google – laranitas
free content source