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Why Hating China Is Futile   [Copy link] 中文

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Post time 2013-9-10 10:24:40 |Display all floors
(Forbes) During an election campaign, two things are guaranteed.  Parties will discuss how they are more righteous than their rivals. And they will show voters how they’ll punch China’s lights out faster than their opponent.

But, from an economic standpoint, hating China is futile. In fact, if China grows at a clip of 7% or more for the next five years it could outstrip Mexico as the United States’ No. 2 trading partner.  Right now, China is No. 3 and far behind Mexico, which enjoys a free trade agreement with the U.S.

Biggest Buyers Of U.S. Products

Country           Imports       Growth             Avg. Annual Growth
Canada             $263              3.1%                7.0%
Mexico              $208.4          9.2%                10.1%
China/HKG     $144.4          6.0%                15.6%
Japan                $66.8            6.3%                  4.0%
UK                      $48.8            -3.9%                 5.9%
Germany         $46.2            -0.9%                 7.1%
Brazil                $42.5             1.9%                 17.9%
So. Korea          $40.1             -2.5%                  8.8%
Netherlands    $37.1             -1.5%                  8.5%
Singapore         $29.1             -0.6%                 8.2%

Source: U.S. China Business Council. Figures estimated by The Trade Partnership. Figures in billions of dollars.

Meanwhile, China imported $108.6 billion in U.S. goods last year, up from $102 billion in 2011 and $89.5 billion in 2010. By comparison, Mexico imported $208 billion of U.S. goods and services in 2012.

China has a way to go to catch up. Yet, China is a different animal than Mexico.  Mexico is not going through a structural shift of being an export economy morphing to a consumer-focused one.  China is.  And when China turns inward, it means a stronger currency, higher incomes, and more consumer spending. At least, in theory. Imports this year have slowed due to the general weakness in the Chinese economy.  But overall, the richer-China theory has proven correct.  Consumers are demanding more goods from the U.S. and corporations there are upsizing, buying U.S. capital goods.

The U.S. China trade deficit is still  getting bigger. But that’s not necessarily China’s fault. They are buying more from the us than ever before.

In the decade between 2003 and 2012, total U.S. exports to China rose 294%, an increase of nearly $81 billion, according to The Trade Partnership data compiled by the U.S. China Business Council.

Many exports to Hong Kong are destined for China’s markets. Together, U.S. exports to Hong Kong and China reached $144.4 billion in 2012. The combined U.S. exports to the two destinations grew by 26% from 2010-2012, and posted a 6% gain from 2011.

While it’s true, most of the stuff we export to China comes out of a farm in the bread basket states (China bought $21 billion worth of agricultural commodities, mainly soybeans, from the U.S. last year), the country also spent $16 billion on transportation equipment, $14 billion on computers and electronics and $12 billion on chemicals.

Republican & Democrats Should Embrace China

Over the last decade, the growth in America exports to China was broad based and widely shared among congressional districts around the country. In 2012, 262 congressional districts (60%) increased exports to China, the U.S. China Business Council (USCBC) said in a report released Thursday. Between 2003 and 2012, 401 congressional districts (92% of them) experienced triple-digit growth in their exports to China.

As this trend continues, hating China will be harder for politicians. It will be like a southern state congressman voting to slash the defense budget. You can’t say China is a currency manipulator killing American jobs if they just spent a few million helping your state hire a few hundred oil workers.

Out of 435 congressional districts, 249 of them had higher growth in exports to China last year than any other market in the world, according to the USCBC’s “Congressional District Exports to China” report.

China wants what we produce. But they should want even more of it. The U.S. lags behind the Europeans and Japanese in the Chinese market.

The USCBC, a lobby firm, said in its report Thursday that congress should consider developing a new U.S. trade objective to reclaim a 10% share of China’s imports by 2015. Right now it is 7%.

Regaining a 10% share of China’s import market will help U.S. companies build a presence in China and boost overall U.S. sales.
For China, increasing imports remains a primary objective.  In May 2012, the State Council issued guidelines to increase imports by “further improving the structure of imports and … importing more advanced technologies.”  The United States needs to be on the forefront of this, USCBC says.  The firm represents the interest of the major multinationals selling to China. Still, who in China would want to partner with a state whose leaders keep talking about how horrible they are?  Eventually, politicians will get it.

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Post time 2013-9-10 10:41:39 |Display all floors
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Post time 2013-9-10 11:07:01 |Display all floors
If you do not agree with the Chinese government ...

YOU are considered a "China Hater".


Same like in the USA:
If you do not like the Obama-Administration,
YOU are considered a "USA-Hater".


Oh, did I say somehting wrong ?

I am confused now.

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Post time 2013-9-10 12:17:35 |Display all floors

The average American does not hate China.  It is the minority aspiring to dominate American politics that hates China.  Because it knows, of all the minorities dealing with the American people, the Chinese provide the most down-to-earth service and useful products that will naturally win the friendship of the American people, while they themselves have nothing to offer the American people but empty ideological platitudes, or claims of consanguinity marred by their repeated attempts to subjugate their American colonists up to 1812.

For too long, those who preach love have practiced hate.  They advocate democracy but deny the sovereignty of the Chinese nation.

Their hypocrisy is most evident to their own fellow countrymen, whose answer to their negative attacks against China is a resounding "Hate no more, no more hate!"

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Post time 2013-9-10 13:59:39 |Display all floors
abramicus Post time: 2013-9-10 12:17
The average American does not hate China.  It is the minority aspiring to dominate American poli ...

Actually I am opposing you abramicus.

I believe that not even a minority hates China.

There is no such thing like hating China, even not in this forum.

You and your ilk are either intentially or unintentially want tell us such thing.

The truth is, that some (or some more) people do not agree with your government and your one-party-system. They consider it a kind of dictatorship and they rather want to have it reformed for the sake of the Chinese people.

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Post time 2013-9-11 10:17:00 |Display all floors
When you don't have enough sense to realize all the billionaires in your own country didn't work
20,000 times harder or longer than the average person for every billion they stole...
then hating China seems like a good idea.
If capitalism promotes innovation and creativity then why aren't scientists and artists the richest people in a capitalist nation?

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Post time 2013-9-11 12:38:19 |Display all floors
robert237 Post time: 2013-9-11 10:17
When you don't have enough sense to realize all the billionaires in your own country didn't work
20, ...

You are obviously talking about the PRC ?

Are you a "China - Hater" - Robert  ???

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