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China's development strategy shift 'encouraging': US

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posted on May, 18 2010 @ 06:52 PM
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China's development strategy shift 'encouraging': US


rawstory.com

US Treasury Secretary Timothy Geithner said Tuesday that export-driven China was shifting its development strategy to rely more on domestic consumption, a move he described as "encouraging."

He said Beijing's strategy change partly had resulted in a jump of almost 50 percent in American exports to China compared to a 20-percent rise to the rest of the world in the first quarter of this year.
(visit the link for the full news article)


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posted on May, 18 2010 @ 06:52 PM
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The number listed above from the source article are interesting. The increase in trade is not a bad thing at all, in my opinion. What I don't understand is how is this shift is strategy a good thing for China? I doubt that China's government is doing it because it what the people want. They have rarely done anything like that in the past from what I can remember.

rawstory.com
(visit the link for the full news article)



posted on May, 18 2010 @ 08:01 PM
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reply to post by RedGolem
 


A 50% rise in exports to china from the US sounds good, but it needs to have an index to draw from first.
50% increase of 3% exported goods brings you to 1.5% gain or a 4.5%.
Not enough to get excited about, but it's always good to see something being made and sold.
China needs to send some money back to the US just to keep the air in the tires in the country they currently own.
It would be nice to see some jobs come back that arent war based,
hope and change, rope and chains!



[edit on 18-5-2010 by HappilyEverAfter]



posted on May, 18 2010 @ 08:09 PM
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From the US to China.
$55.2 billion in American exports


Semi-conductors … US$5.9 billion (10.6% of China from U.S. imports, up 74.7% from 2005)
Civilian aircraft … $5.3 billion (9.6%, up 39.7%)
Soybeans … $2.5 billion (4.6%, up 12.5%)
Plastics …. $2.2 billion (3.9%, up 18.8%)
Raw cotton … $2.1 billion (3.7%, up 47%)
Industrial machines … $1.97 billion (3.6%, up 29%)
Copper … $1.86 billion (3.4%, up 99.7%)
Computer accessories … $1.82 billion (3.3%, up 27.5%)
Aluminum … $1.7 billion (3.1%, up 90.3%)
Steelmaking material … $1.69 billion (3.1%, up 11.9%)
Unmanufactured tobacco … US$61.4 million (up 3127% from 2005)
Corn … $22.6 million (up 2963%)
Oilseeds & food oils … $60.7 million (up 970%)
Precious metals … $305 million (up 205.2%)
Railway transportation equipment … $220 million (up 146%)

From China to the US
$287.8 billion

Computer accessories, peripherals and parts …US$28.9 billion (10.1% of China to U.S. exports, up 12.4% from 2005)
Miscellaneous household goods (e.g. clocks) … $26.5 billion (9.2%, up 17.2%)
Toys & sporting goods (e.g. bicycles) … $22.2 billion (7.7%, up 10.2%)
Computers … $17.4 billion (6%, up 20.2%)
Non-cotton household furnishings & clothing … $14.6 billion (5.1%, up 11.3%)
Video equipment (e.g. DVD players) … $14.5 billion (5.0%, up 34.9%)
Household furniture … $13.2 billion (4.6%, up 14.3%)
Footwear ... $10.7 billion (3.7%, up 11.1%)
Cotton household furnishings & clothing … $9.9 billion (3.4%, up 29.6%)
Telecommunications equipment … $8.3 billion (3.0%, up 23.7%)
Zinc … US$8.6 million (up 616% from 2005)
Nickel … $25.9 million (up 273%)
Lumber … $74.7 million (up 213%)
Specialized mining & oil processing equipment … $96.6 million (up 188%)
Oil field drilling equipment & platforms … $1.6 billion (up 182%)



posted on May, 18 2010 @ 09:22 PM
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reply to post by HappilyEverAfter
 


Some great information, thanks for posting it, stared
I was taking note of how much of the exports were increasing. Like the tobacco, increase of 3127 percent.



posted on May, 18 2010 @ 09:48 PM
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US Treasury Secretary Timothy Geithner said Tuesday that export-driven China was shifting its development strategy to rely more on domestic consumption, a move he described as "encouraging."

Yeah. That means that soon they won't need the US anymore and will be able to drop all their US treasuries whenever they want, killing the US market.

That means THEY WON'T NEED AMERICA ANYMORE.

Real great plan Timothy!



posted on May, 19 2010 @ 05:36 AM
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reply to post by Vitchilo
 


Vitchilo
That is the best answer to why there is the shift in there strategy I have heard so far. So thanks for posting.



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