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China is not an export economy. They have a very balanced current account, < 1% of GDP. https://www.themoneyillusion.com/things-that-smart-people-dont-know/?fb
by tedsanders 7y ago
China is not an export economy. They have a very balanced current account, < 1% of GDP.
https://www.themoneyillusion.com/things-that-smart-people-dont-know/?fbclid=IwAR3j5L_WxachUW1zoEoV50Jg1-_DycRvXeEgdEOgqGnl6AUAVIwsOuVpZWo https://www.themoneyillusion.com/things-that-smart-people-do...
The justification that the Trump administration gives is that if you look at the subset current account that is trade, then further subset down to goods only (not services) and then futher subset down to bilateral goods trade with the USA then indeed China has a big surplus.
- peshooo 7y agoI'm not an expert but your article shows the current account, not trade. And about the trade most of the sources say between 400-500b US$ of trade surplus per year. Which means the exports are about 22% larger than the imports. For example here: https://wits.worldbank.org/CountryProfile/en/CHN https://wits.worldbank.org/CountryProfile/en/CHN
- tedsanders 7y agoThanks for the correction/clarification. Looks like that surplus equates to ~1.7% of GDP.