We are told all kinds of lies about foreign trade of China by dubious politicians and economists. I carried study of US trade data and came to my earlier conclusions but this time with absolutely “Stunning Data”.

http://www.census.gov/foreign-trade/Press Release/current_press_release/ft900.pdf

On page 24 you find that US has trade deficit in high technologies of $4b in September. So USA with millions of foreign origin top professionals working for its companies and very strong IPR regime is no longer “Technology Trade Surplus”.

American, Japanese and European arrogance and unfair practices in employing foreign professionals have rendered them incompetent and unfit to compete with China.

Let me give figures, most unbelievable in India at least, that out of $26b high technology imports in to USA, China exports were $6.7b and was more than EU exports to US of $5b, Japan’s technology exports to USA were just $2.2b or a third of China high technology exports to USA. Indian exports to USA in high tech exports was mere $65m or just 1% of China, even Israel exported 4 times more than India.

In terms of trade balance China in September had $23b trade surplus out of $64b or a third of trade surplus is contributed by China as compared to $0.95b for India.

In second clipping you will find that when USA reduced trade deficit against most countries, China surged by 4% in just one month.

How big China Dinosaur shall grow by 2010 or 2020 people have very little understanding? It shall be two to four times in exports performance reducing rest of the nations to share 30% to 40% of world trade.

Ravinder Singh December08, 2006

Corruptionfree04@yahoo.com 

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that total September exports of $123.2 billion and imports of $187.5 billion resulted in a goods and services deficit of $64.3 billion, $4.7 billion less than the $69.0 billion in August, revised.

September exports were $0.6 billion more than August exports of $122.6 billion. September imports were $4.1 billion less than August imports of $191.6 billion.

The September figures showed surpluses, in billions of dollars, with Hong Kong $1.0 ($0.7 for August), Australia $0.9 ($0.9), Singapore $0.7 ($0.4), Egypt $0.2 ($0.2), and Argentina $0.2 ($0.1). Deficits were recorded, in billions of dollars, with China $23.0 ($22.0), OPEC $9.2 ($11.2), Europe $9.0 ($13.7), the European Union $7.0 ($11.0), Japan $6.7 ($7.5), Mexico $5.8 ($6.2), Canada $5.7 ($6.1), Taiwan $1.5 ($1.7), Korea $0.8 ($1.1), and Brazil $0.5 ($1.0).

Advanced technology products (ATP) exports were $22.0 billion in September and imports were $26.2 billion, resulting in a deficit of $4.2 billion. September exports were $0.7 billion more than the $21.3 billion in August, while imports were $1.3 billion more than the $24.9 billion in August.