by Summary:
As recently as 2008, China’s net trade surplus accounted for 8% of GDP; by 2018, that figure was only about 1.3%—less than either Germany or South Korea, where net trade surpluses generate between 5% and 8% of GDP. The US isn’t far behind its Eastern neighbor: In 2018, US had a trade deficit of about 3% of GDP, down from 5% in 2006.... Instead, China’s economy today is driven by domestic consumption. In 11 of the 16 quarters since 2015, consumption has contributed more than 60% of GDP growth. In addition to becoming the world’s biggest market for online retail, the country now represents more than 30% of global market in luxury goods, automotive, consumer appliances, mobile phones, and spirits.... Quartz (May 6)For all the hubbub about the US-China trade war, trade is a fraction of
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Mike Norman considers the following as important: Sino-American trade war
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As recently as 2008, China’s net trade surplus accounted for 8% of GDP; by 2018, that figure was only about 1.3%—less than either Germany or South Korea, where net trade surpluses generate between 5% and 8% of GDP. The US isn’t far behind its Eastern neighbor: In 2018, US had a trade deficit of about 3% of GDP, down from 5% in 2006.... Instead, China’s economy today is driven by domestic consumption. In 11 of the 16 quarters since 2015, consumption has contributed more than 60% of GDP growth. In addition to becoming the world’s biggest market for online retail, the country now represents more than 30% of global market in luxury goods, automotive, consumer appliances, mobile phones, and spirits.... Quartz (May 6)For all the hubbub about the US-China trade war, trade is a fraction of
Topics:
Mike Norman considers the following as important: Sino-American trade war
This could be interesting, too:
Mike Norman writes RT — Beijing won’t just ‘watch Huawei be slaughtered on the chopping board’, company chief warns US
Mike Norman writes China to buy billion in U.S. farm products in return for tariff concessions-U.S. sources — Jeff Mason, Andrea Shalal, David Lawder
Mike Norman writes Is China Actually Stealing American Jobs and Wealth? John L. Graham and Benjamin Leffel
Mike Norman writes America’s War on Chinese Technology — Jeffrey D. Sachs
As recently as 2008, China’s net trade surplus accounted for 8% of GDP; by 2018, that figure was only about 1.3%—less than either Germany or South Korea, where net trade surpluses generate between 5% and 8% of GDP. The US isn’t far behind its Eastern neighbor: In 2018, US had a trade deficit of about 3% of GDP, down from 5% in 2006....
Instead, China’s economy today is driven by domestic consumption. In 11 of the 16 quarters since 2015, consumption has contributed more than 60% of GDP growth. In addition to becoming the world’s biggest market for online retail, the country now represents more than 30% of global market in luxury goods, automotive, consumer appliances, mobile phones, and spirits....Quartz (May 6)
For all the hubbub about the US-China trade war, trade is a fraction of China's economy
Jonathan Woetzel and Jeongmin Seong