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China, trade, and deficits

 
Larry D. Croc

User ID: 70736097
United States
08/23/2019 05:35 PM

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China, trade, and deficits
In 2017 the US imported about 505 billion dollars of goods and services from China. We exported about 130 billion dollars of goods and services to China.

Deficit: About 375 billion dollars, more than a billion dollars per day, day in and day out.

In 2018 the US imported about 540 billion dollars of goods and services from China. We exported about 120 billion dollars of goods and services in that same year, 10 billion dollars LESS than the year before.

Deficit: About 420 billion dollars. About 1.1 billion dollars per day, day in and day out.

The US is China's largest trade partner, we account for about 20% of what they export. Interestingly enough, Hong Kong is their second largest trade partner, they account for about 12% of what China exports.

Who does the US export to the most?

Canada and Mexico, China is a distant third.

Bottom line? China needs the US more than they're willing to admit; particularly when it comes to aircraft and parts.

They COULD import more from the US, they choose not to.

Without the surplus cash the Chinese get from the US their centrally planned economy is going to tank, and tank fast. They de-valuated their currency to try and neutralize the tariffs. Artificially de-valuated it. Soon they won't have to worry about it, the rest of the world will do it for them.

Will this hurt? Yes, it will to some extent. But getting a more level playing field and a more balanced trade relationship will, hopefully, put an end to the economic war they've been quietly waging (and winning) for more than ten years.
"Socialism only works in two places: Heaven where they don't need it and hell, where they already have it." Ronald Reagan

The trouble with our liberal friends is not that they're ignorant; it's just that they know so much that isn't so." Ronald Reagan
ayr phorce yuan

User ID: 77943195
United Kingdom
08/23/2019 05:43 PM
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Re: China, trade, and deficits
Interesting read.

China has spent a fair amount on gold over the past 15-18 years. I have no idea how much but I do know it’s a risky business stockpiling a commodity you do not control the consumer value of.
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embu
User ID: 76993552
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08/23/2019 05:44 PM
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Re: China, trade, and deficits
the chinese leadership is getting desperate, fraud in the economy their numbers are bad, not directly buying american food means they have to subsidize or risk unrest even if they could get enough. 1 child policy creating pressure due to lack of women. poor living conditions due to pollution. It will get very interesting.
Larry D. Croc  (OP)

User ID: 70736097
United States
08/23/2019 05:49 PM

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Re: China, trade, and deficits
Interesting read.

China has spent a fair amount on gold over the past 15-18 years. I have no idea how much but I do know it’s a risky business stockpiling a commodity you do not control the consumer value of.
 Quoting: ayr phorce yuan


Gold isn't going to do them any good when it comes to Boeing and MDD parts and aircraft or chips from Intel, etc.

There will likely be turmoil but it's necessary to at least try and get things back on track. It's been a "silent war" for years, time to get busy.
"Socialism only works in two places: Heaven where they don't need it and hell, where they already have it." Ronald Reagan

The trouble with our liberal friends is not that they're ignorant; it's just that they know so much that isn't so." Ronald Reagan
Larry D. Croc  (OP)

User ID: 70736097
United States
08/23/2019 05:51 PM

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Re: China, trade, and deficits
the chinese leadership is getting desperate, fraud in the economy their numbers are bad, not directly buying american food means they have to subsidize or risk unrest even if they could get enough. 1 child policy creating pressure due to lack of women. poor living conditions due to pollution. It will get very interesting.
 Quoting: embu 76993552


And their population is aging rapidly. I agree with your comment about the 1 child policy; it's the law of unintended consequences writ large.

One of the reasons they want to totally absorb Hong Kong is to get at the financial success.

Their leadership, of course, isn't elected so they get to play a "long game" while we need to hurry things up.
"Socialism only works in two places: Heaven where they don't need it and hell, where they already have it." Ronald Reagan

The trouble with our liberal friends is not that they're ignorant; it's just that they know so much that isn't so." Ronald Reagan
ayr phorce yuan

User ID: 77943195
United Kingdom
08/23/2019 05:54 PM
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Re: China, trade, and deficits
Interesting read.

China has spent a fair amount on gold over the past 15-18 years. I have no idea how much but I do know it’s a risky business stockpiling a commodity you do not control the consumer value of.
 Quoting: ayr phorce yuan


Gold isn't going to do them any good when it comes to Boeing and MDD parts and aircraft or chips from Intel, etc.

There will likely be turmoil but it's necessary to at least try and get things back on track. It's been a "silent war" for years, time to get busy.
 Quoting: Larry D. Croc


Yes, that was my point regarding gold purchase. I don’t think their purchase of such huge amounts had anything to do with circuitry unless they are expecting issues with emp attacks, but if that starts happening on that scale it’s game over for all.

I would assume the mass purchasing was as a commodity to ‘trade’, but good heavens that is a high risk strategy with a ‘luxury’ commodity.
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Larry D. Croc  (OP)

User ID: 70736097
United States
08/23/2019 06:01 PM

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Re: China, trade, and deficits
Interesting read.

China has spent a fair amount on gold over the past 15-18 years. I have no idea how much but I do know it’s a risky business stockpiling a commodity you do not control the consumer value of.
 Quoting: ayr phorce yuan


Gold isn't going to do them any good when it comes to Boeing and MDD parts and aircraft or chips from Intel, etc.

There will likely be turmoil but it's necessary to at least try and get things back on track. It's been a "silent war" for years, time to get busy.
 Quoting: Larry D. Croc


Yes, that was my point regarding gold purchase. I don’t think their purchase of such huge amounts had anything to do with circuitry unless they are expecting issues with emp attacks, but if that starts happening on that scale it’s game over for all.

I would assume the mass purchasing was as a commodity to ‘trade’, but good heavens that is a high risk strategy with a ‘luxury’ commodity.
 Quoting: ayr phorce yuan


And they were hoping to make their currency more respected in the world market, perhaps even a reserve currency. Gold would help influence that perception. I suspect a lot of that gold has found it's way out of their economy and into the getaway accounts of their elite.

Chinese as a rule, not all but many, love gold and diamonds. Anyone who has any extra cash buys even 1/20 ounce gold coins whenever they can.

I asked a couple of people recently from China why those two things were so popular. Their response, excuse the gross answer, was that "it fits up your ass and we never know when we need to, or have the chance to get out." Portable wealth...
"Socialism only works in two places: Heaven where they don't need it and hell, where they already have it." Ronald Reagan

The trouble with our liberal friends is not that they're ignorant; it's just that they know so much that isn't so." Ronald Reagan
ayr phorce yuan

User ID: 77943195
United Kingdom
08/23/2019 06:21 PM
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Re: China, trade, and deficits
Interesting read.

China has spent a fair amount on gold over the past 15-18 years. I have no idea how much but I do know it’s a risky business stockpiling a commodity you do not control the consumer value of.
 Quoting: ayr phorce yuan


Gold isn't going to do them any good when it comes to Boeing and MDD parts and aircraft or chips from Intel, etc.

There will likely be turmoil but it's necessary to at least try and get things back on track. It's been a "silent war" for years, time to get busy.
 Quoting: Larry D. Croc


Yes, that was my point regarding gold purchase. I don’t think their purchase of such huge amounts had anything to do with circuitry unless they are expecting issues with emp attacks, but if that starts happening on that scale it’s game over for all.

I would assume the mass purchasing was as a commodity to ‘trade’, but good heavens that is a high risk strategy with a ‘luxury’ commodity.
 Quoting: ayr phorce yuan


And they were hoping to make their currency more respected in the world market, perhaps even a reserve currency. Gold would help influence that perception. I suspect a lot of that gold has found it's way out of their economy and into the getaway accounts of their elite.

Chinese as a rule, not all but many, love gold and diamonds. Anyone who has any extra cash buys even 1/20 ounce gold coins whenever they can.

I asked a couple of people recently from China why those two things were so popular. Their response, excuse the gross answer, was that "it fits up your ass and we never know when we need to, or have the chance to get out." Portable wealth...
 Quoting: Larry D. Croc


Well I never knew that, like Krugerrand. Hey, that true about the....well....storage???

I’m hoping that was a language barrier!!

dogclip
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Anonymous Coward
User ID: 77887454
Australia
08/23/2019 06:27 PM
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Re: China, trade, and deficits
Interesting read.

China has spent a fair amount on gold over the past 15-18 years. I have no idea how much but I do know it’s a risky business stockpiling a commodity you do not control the consumer value of.
 Quoting: ayr phorce yuan


Official gold reserves

By country

[link to tradingeconomics.com (secure)]
Larry D. Croc  (OP)

User ID: 70736097
United States
08/23/2019 06:31 PM

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Re: China, trade, and deficits
...


Gold isn't going to do them any good when it comes to Boeing and MDD parts and aircraft or chips from Intel, etc.

There will likely be turmoil but it's necessary to at least try and get things back on track. It's been a "silent war" for years, time to get busy.
 Quoting: Larry D. Croc


Yes, that was my point regarding gold purchase. I don’t think their purchase of such huge amounts had anything to do with circuitry unless they are expecting issues with emp attacks, but if that starts happening on that scale it’s game over for all.

I would assume the mass purchasing was as a commodity to ‘trade’, but good heavens that is a high risk strategy with a ‘luxury’ commodity.
 Quoting: ayr phorce yuan


And they were hoping to make their currency more respected in the world market, perhaps even a reserve currency. Gold would help influence that perception. I suspect a lot of that gold has found it's way out of their economy and into the getaway accounts of their elite.

Chinese as a rule, not all but many, love gold and diamonds. Anyone who has any extra cash buys even 1/20 ounce gold coins whenever they can.

I asked a couple of people recently from China why those two things were so popular. Their response, excuse the gross answer, was that "it fits up your ass and we never know when we need to, or have the chance to get out." Portable wealth...
 Quoting: Larry D. Croc


Well I never knew that, like Krugerrand. Hey, that true about the....well....storage???

I’m hoping that was a language barrier!!

dogclip
 Quoting: ayr phorce yuan


Nope, not a language issue. Hell, think about how people try to smuggle drugs using the insertion of condoms loaded with meth, cocaine, etc.
"Socialism only works in two places: Heaven where they don't need it and hell, where they already have it." Ronald Reagan

The trouble with our liberal friends is not that they're ignorant; it's just that they know so much that isn't so." Ronald Reagan
Larry D. Croc  (OP)

User ID: 70736097
United States
08/23/2019 06:33 PM

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Re: China, trade, and deficits
Interesting read.

China has spent a fair amount on gold over the past 15-18 years. I have no idea how much but I do know it’s a risky business stockpiling a commodity you do not control the consumer value of.
 Quoting: ayr phorce yuan


Official gold reserves

By country

[link to tradingeconomics.com (secure)]
 Quoting: Anonymous Coward 77887454


Note the large increase in reserves by Russia, China, and, interestingly, Argentina and Brazil.
"Socialism only works in two places: Heaven where they don't need it and hell, where they already have it." Ronald Reagan

The trouble with our liberal friends is not that they're ignorant; it's just that they know so much that isn't so." Ronald Reagan
ayr phorce yuan

User ID: 77943195
United Kingdom
08/23/2019 06:34 PM
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Re: China, trade, and deficits
Interesting read.

China has spent a fair amount on gold over the past 15-18 years. I have no idea how much but I do know it’s a risky business stockpiling a commodity you do not control the consumer value of.
 Quoting: ayr phorce yuan


Official gold reserves

By country

[link to tradingeconomics.com (secure)]
 Quoting: Anonymous Coward 77887454


Thx.

Interesting site, the tourism index is an eye opener.
GLP alert level 2; "Go get a Hard Hat:.

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Anonymous Coward
User ID: 77887454
Australia
08/23/2019 08:12 PM
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Re: China, trade, and deficits
Interesting read.

China has spent a fair amount on gold over the past 15-18 years. I have no idea how much but I do know it’s a risky business stockpiling a commodity you do not control the consumer value of.
 Quoting: ayr phorce yuan


Official gold reserves

By country

[link to tradingeconomics.com (secure)]
 Quoting: Anonymous Coward 77887454


Thx.

Interesting site, the tourism index is an eye opener.
 Quoting: ayr phorce yuan


If you keep tab
Of finance news
On that site
You’ll begin understanding these murky markets
Larry D. Croc  (OP)

User ID: 70736097
United States
08/23/2019 08:13 PM

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Re: China, trade, and deficits
Interesting read.

China has spent a fair amount on gold over the past 15-18 years. I have no idea how much but I do know it’s a risky business stockpiling a commodity you do not control the consumer value of.
 Quoting: ayr phorce yuan


Official gold reserves

By country

[link to tradingeconomics.com (secure)]
 Quoting: Anonymous Coward 77887454


Thx.

Interesting site, the tourism index is an eye opener.
 Quoting: ayr phorce yuan


If you keep tab
Of finance news
On that site
You’ll begin understanding these murky markets
 Quoting: Anonymous Coward 77887454


Good site, thanks for sharing it. Getting factual information that's not skewed is getting harder and harder to do. Resources like this are valuable to help sort through the smoke and mirrors.
"Socialism only works in two places: Heaven where they don't need it and hell, where they already have it." Ronald Reagan

The trouble with our liberal friends is not that they're ignorant; it's just that they know so much that isn't so." Ronald Reagan
Anonymous Coward
User ID: 77887454
Australia
08/23/2019 08:28 PM
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Re: China, trade, and deficits
The ‘market’ supposedly

Captures all information


damned
Larry D. Croc  (OP)

User ID: 70736097
United States
08/23/2019 08:34 PM

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Re: China, trade, and deficits
The ‘market’ supposedly

Captures all information


damned
 Quoting: Anonymous Coward 77887454


Once upon a time I believed the "efficient market" concept, not so much anymore.

Too much time hanging around conspiracy theorists I guess...
"Socialism only works in two places: Heaven where they don't need it and hell, where they already have it." Ronald Reagan

The trouble with our liberal friends is not that they're ignorant; it's just that they know so much that isn't so." Ronald Reagan





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