While trade tensions with China escalate, the US keeps complaining that it has suffered losses because of US-China trade deficits. But is it true? Is global trade so simple that deficits or surplus can explain it once and for all? Check out the facts about the US-China trade below.
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The Unknown Facts About US-China Trade
Transcript
If everything was taken away that was made in China I'd be really in trouble. Yes there is somebody in China Nike's made in China. Money was made in China have meaning forU.S. companies that invest in China produce the goods and export back to the way America is the major beneficiary of quality an inexpensive Chinese goods large budget deficits. And that means it will have a great gift. Carol I think the American strategy should be to pick the United States off not to hold China down. It's morning rush hour. Millions of people are flooding every corner of the city as they hurry to work leads. He's one of six million migrant workers who have settled. Lee arrived in Guam from his home city of Junjie on 13 years ago seeking a better life. He has risen to the position of quality inspector Aktion technology. The company is a global supplier of key components for circuit boards used in automobile electronics and communications devices. Li has first hand knowledge of the hardship experienced by China's migrant workers. In my first year in dongwoon I started with a monthly pay of just 900 yen little more than a hundred dollars. I still work 22 to 28 days a month. The city of dongwoon lies close to Gwangju capital of Guangdong province in southern China. In the course of three decades of rapid development dongwoon has become a global manufacturing hub earning himself fame as the world's factory.
According to US-China trade official statistics in 2017 there were over 410000 registered enterprises in the city 10 percent of the world's sneakers are made right here along with two out of every ten smartphones in a third of all toys. People here joke that a traffic jam and doom will cause shortages around the world. Dongwoon is feeding global consumers with a vast array of products and many of these products end up in the United States.
Every day I make breakfast in my kitchen ready go look at some of the products to see if they're made in China. So you just waffle maker make waffles every day. So this will make your child see the balls it goes. Next up the batter for the waffles.
There's a name China as well. Mendelsohn is a blogger living in San Francisco. When the United States he recently tried a challenge to see what his life would be like without any products made in China he checked most of the items at his home and found that they are made in India Vietnam and mostly in China.
He went to local stores including Ross and Costco in search ofU.S. made products and he found a similar situation. Mendelson eventually admitted that it's rather difficult for him to last without Made in China.
If everything was taken away that was made in China I'd be really in trouble. I mean my phone my laptop my TV everything is made from China. So every everyday means of just talking to people I couldn't even do that. If we didn't have it Mendelson found that all the products for everyday use including clothing and home appliances are made outside the United States and mostly in China. But the traffic across the Pacific is a two way street.
products are also flooding the Chinese market with Chinese consumers won from theU.S. are mostly high end goods such as cars electronics and name brand articles for daily use. In recent years imports ofU.S. agricultural products have seen a sharp increase as well. So too has the demand for services which account for an ever expanding proportion of American exports to China in particular education opportunities in theU.S. are an area of interest for China's growing middle class Juleanna and lives in Beijing. She is a longtime consumer of various US products.
