3 ms·

That doesn't make much sense. Even allowing a few years for adjustment, the US only imported 158.3M from China in 1975. That's 0.007% of US GDP. (Not 0.7%, 0.00

That doesn't make much sense. Even allowing a few years for adjustment, the US only imported 158.3M from China in 1975. That's 0.007% of US GDP. (Not 0.7%, 0.007%.) https://chinese-legal-studies.law.columbia.edu/sites/chinese-legal-studies.law.columbia.edu/files/content/Collected%20Works/Articles/1976%20Trade%20between%20the%20United%20States.pdf https://chinese-legal-studies.law.columbia.edu/sites/chinese... The US didn't have persistent trade deficits until 1982, and even that reversed by 1992. It was 1997-2006 that the trade deficit as a share of GDP exploded.

aaronbaugher 1y ago
Right. When Ross Perot predicted the "giant sucking sound" in 1992, he was talking about NAFTA, which hadn't gone into effect yet. And that was small potatoes compared to the deficit with China that would come.