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Originally posted by saint4God
I don't mind if things are produced overseas when our unemployment rate is going down but otherwise it looks like economic suicide. We're climbing, at 7.6 presently
Japan, the world's second largest economy, is already in recession and still declining. Japanese exports fell 35 percent in December from a year earlier, as the global demand for its cars, electronics and capital goods dried up. Industrial production plunged a record 9.6 percent, month on month, in December.
China, the so-called "workshop of the world," is being hit particularly hard. Exports declined for the third consecutive month in January, falling 17.5 percent from a year earlier, after a 2.8 percent decline in December. Imports plunged even further—43.1 percent, twice as much as December's 21.3 percent year-on-year drop, the General Administration of Customs said on Wednesday.
India, the other economy previously touted as a possible bulwark against world depression, is suffering as well. Exports fell 24 percent in January. According to official data,
Taiwan, the sixth largest Asian economy, saw its exports fall 44.1 percent in January from a year earlier—the biggest fall since records began in 1972. Imports plunged 56.5 percent in the same month.
The IMF's projection for Philippines is just 2.25 percent this year, down from 4.6 percent last year and 7.1 percent in 2007. The official predication for Singapore, the region's trade and financial hub, in 2009 is a contraction of 5 percent—the deepest recession since the city-state was founded in 1965. Malaysia's exports in December plunged 14.9 percent from a year earlier, with exports to the US falling by 30 percent.
Originally posted by marg6043
You know the irony of it, that our so call trade partners do practice protectionism it seems that the only nation that not is our.
Originally posted by ufoorbhunter
As a Brit I go out of my way to buy American if the chance is there. Tools, the US makes some really good stuff like Snap On. Also my multi tool made by Gerber. My Gorilla bucket from the States. The stencil film we use at work is also made in the USA. If I can buy Made in USA I do so, because the stuff made there is better, almost over engineered and really does the job.
Originally posted by marg6043
Get your facts straight before tring to post with not links to as what you are talking about.
China comes next, with a combined export value of $1.465 trillion USD.
The United States comes in third, exporting $1.377 trillion USD.
America is the BIGEEST IMPORTER, in the world that means that the money we spend goes mostly to the countries we have trade with
The main reason we have a trade deficit.
These numbers are especially interesting when compared to the total value of these nations’ imports.
The United States is the largest importer in terms of value, with total imports of around $2.19 trillion USD.
Everything is included in the figures.
What it doesn't cover unless I missed it is the fact that what we do produce and consumed in our own country is not reflected in those figures.
Add what we produce for our own markets to what we export and the numbers are staggering also China is a known thief.
[edit on 23-2-2009 by SLAYER69]