This Great Graphic was posted on Sober Look. It shows US (merchandise) exports to China (blue line) and its exports to the world, excluding China (pink line). In dollar terms, US exports to China in November reached $13.2 bln, a record.
Although the US is likely to have been the world's third largest exporter in 2013, behind Germany and China, it typically exports around 15% of GDP. This is around Japan's exports as well. Germany and China export more than 2.5 times as much as a proportion of their economies.
Nevertheless, US trade figures suggest that net exports contributed positively to Q4 GDP. There seems to be two main reasons. The first is the energy story in the US. Oil imports continue to trend lower. The cheap energy story is a major development in the global political economy and one whose implications may not be completely understood yet. Second, as the chart here shows, US exports to China have risen sharply since mid-2013.
Great Graphic: How China is Helping US Recovery
Reviewed by Marc Chandler
on
January 09, 2014
Rating:
Reviewed by Marc Chandler
on
January 09, 2014
Rating:
