"Obama says he wants to double exports in the next five years to create U.S. jobs. According to data released today by the BEA (available here), U.S. exports to China surged to $10.12 billion in December, a new monthly record, and more than double the $4.6 billion in February 2009, less than two years ago. In fact, exports to China have more than tripled since January 2006, slightly less than five years ago. And this apparently happened without any special help from Obama or Bush, it most likely happened because China's economy is booming."
"...exports to China have actually grown much faster (+19% per year) than imports from China (13.8% per year)." (since the year 2000)
Saturday, February 12, 2011
Exports To China Rise Without Help From Government
From Carpe Diem by economist Mark Perry. Excerpts:
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