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November 21, 2005
The wrong bogeyman
In The Economist's article on the new face of globalisation (sub req'd) there's one hell of interesting chart (if you think charts can be called interesting, you're an economist):
Simply eyeballing the chart leads to what should be an obvious conclusion - China's share of America's growing trade deficit has been, at the very best, a constant proportion of about 25% of the deficit. In quantum terms, China is about $200 billion of the $800 billion deficit, whereas 5 years ago it was around $100 billion of a $400 billion deficit. Where's the rest coming from?
Seen the price of oil lately?
But it's not so easy to bash the Saudis (with a currency linked to the US dollar), the Russians, the Norwegians and the rest of OPEC.posted by Simon on 11.21.05 at 04:15 PM in the China economy category.
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Great chart Simon. Very enlightening.
By the way, do you think it was your mention of 'Saudis' that caused google ads to put in a link for anti-terrorism training?posted by: HK Dave on 11.21.05 at 11:22 PM [permalink]