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Sun Dec 2, 2012, 11:23 AM

In 5 Years China Has Overtaken The US As A Global Trader

SEOUL, South Korea (AP) Shin Cheol-soo no longer sees his future in the United States.

The South Korean businessman supplied components to American automakers for a decade. But this year, he uprooted his family from Detroit and moved home to focus on selling to the new economic superpower: China.

In just five years, China has surpassed the United States as a trading partner for much of the world, including U.S. allies such as South Korea and Australia, according to an Associated Press analysis of trade data. As recently as 2006, the U.S. was the larger trading partner for 127 countries, versus just 70 for China. By last year the two had clearly traded places: 124 countries for China, 76 for the U.S.


Read more: http://www.businessinsider.com/in-5-years-china-has-overtaken-the-us-as-a-global-trader-2012-12

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Response to lalalu (Reply #1)

Sun Dec 2, 2012, 11:46 AM

3. Look up the statistics yourself -- International Trade Statistics

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Response to FarCenter (Reply #3)

Sun Dec 2, 2012, 11:51 AM

4. Statistics can be used to present any story.

 

For instance I can give a presidential candidate and the media statistics that make the candidate think he is winning and the race is tight. Then there is reality.

The reality is that the Chinese economy is in shambles. The global economy, outsourcing, and thinking you can build your nation on substandard wages is being exposed as a disaster.

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Response to FarCenter (Original post)

Sun Dec 2, 2012, 11:41 AM

2. By manipulating their currency and keeping the exchange rate artificially low

A nasty little trick they learned from US vulture capitalists and stock price derivative manipulation .

China has never allowed a free float of the Yuan. Right now it is at 6Y to 1USD and the rate should actually be more like 60Y to 1USD if the true exchange rates were reflected. They are pumping up a bubble right now that will make the real-estate crash looks like a 1-day bad trading session after it pops.

China has always carefully controlled the yuan/dollar exchange rate so that the yuan would be valued in such a way as to encourage Chinese exports. If they get forced to stop manipulating their currency the crash is going to be devastating to their house of cards economy.

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Response to tjwash (Reply #2)

Sun Dec 2, 2012, 11:52 AM

5. Thank You. Another issue that is going to cause them to crash.

 

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Response to FarCenter (Original post)

Sun Dec 2, 2012, 12:47 PM

6. Google says Shin Cheol-soo is a nobody.

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Response to GeorgeGist (Reply #6)

Sun Dec 2, 2012, 08:45 PM

7. He's just one example in a long AP story with many examples and lots of data.

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Response to FarCenter (Original post)

Sun Dec 2, 2012, 08:50 PM

8. Tariff the crap out of Chinese stuff.

They really should. It is not free trade and it is not healthy for our economy as things currently stand.

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Response to FarCenter (Original post)

Sun Dec 2, 2012, 08:59 PM

9. China has 4 times the US population.

One day it will have 4 times the trade. There is nothing inherently evil in that.

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Response to FarCenter (Original post)

Tue Dec 4, 2012, 07:55 AM

10. Its no surprise given the size of the country

When you look at the population of the country and compare that to the United States, its no surprise that the Chinese trade balance is so high. There's always news on this topic, I don't anybody is shocked by China's growth anymore.

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