Fact Sheet on US-China "Trade Relationship"

China humiliated the US and took a step toward increasing regional power.
How far could it have gone?  How far could the US government have gone?  The
facts on China-US interdependence (below), which suggest limitations if not
a structure of cooperation, could be read as a problem for the US, in terms
of deficits, but also as a benefit to the US, in subsidizing standards of
living.  The difference, and the tendential decline of the US, could impact
future US reactions to rising East Asian powers.

I'm not sure we can expect US citizens and politicians to listen to the
rational voice peace that international capital often speaks.  As US
conditions decline, will the people instead "push" macho idiots like Bush
forward?  Living in a bible belt state -- Oklahoma -- of declining standards
of living, I might expect them to, for the people here continue to elect
people like governor Keating who drive their standards of living down in a
"race to the bottom," and they think he's just great.  Are the costal
suburbanites all that different?

elson

----- Original Message -----
From: National Labor Committee
To: NLC Key Contacts
Sent: Thursday, April 12, 2001 5:47 PM
Subject: NLC Update: Fact Sheet on US-China "Trade Relationship"

This is a message from the National Labor Committee in Support of Worker and
Human Rights
****************************************

Fact Sheet on US-China "Trade Relationship"

* The United States takes in 42 percent of China's total worldwide exports.
(In 1999, China's exports worldwide totaled $194.9 billion, of which $81.8
billion were imports to the U.S.
* The U.S. had an $83.8 billion trade deficit with China in 2000. Of the
$116 billion "trade relationship" with China in 2000, U.S. exports to China
amounted to just 16.3 billion, while imports from China totaled 100.1
billion. Our $83.8 billion trade deficit with China -- which now exceeds our
deficit with Japan -- accounts for nearly one quarter (approximately 23
percent) of our entire 2000 worldwide trade deficit of $369.7 billion.
* The 2000 trade deficit with China was up 39 percent over the year before.
This trend continued in January 2001, when our trade deficit with China
increased another 19.3 percent over January of last year. The U.S. exported
$1.2 billion worth of goods to China in January 2001, while importing $8.42
billion worth of goods made in China.
* While the U.S. runs this enormous and growing deficit with China, both
Japan and the European Union have trade surpluses with China.
* As labor and human rights conditions deteriorate in China, direct foreign
investment (DFI) in China increases. In 2000, DFI in China reached $40
billion, nearly half of it from the U.S. In January 2001, DFI -- amounting
to $2.22 billion -- was up 22 percent over January of last year.
* In 2000, U.S. companies imported 881 million garments made in China -- or
more than three garments each for every man, woman and child in the U.S.
* 62 percent of all shoes and sneakers imported worldwide to the U.S. come
from China.
* China accounts for 83 percent of all toys and sporting goods imported to
the U.S.

* In terms of worldwide imports to the U.S., China accounts for

76 percent of all umbrellas
54 percent of all leather goods
30 percent of all furniture
85 percent of all artificial flowers
26 percent of all hats
21 percent of all tools
25 percent of all honey
19 percent of all clocks
22 percent of all medical instruments
Top U.S. Imports from China in 2000
1. Electrical machinery   $19.564 billion
2. Machinery    $13.406 billion
3. Toys/sporting goods  $12.382 billion
4. Footwear    $9.195 billion
5. Furniture    $7.202 billion
6. Apparel    $6.202 billion
7. Leather and travel goods  $3.837 billion
8. Plastics/plastic articles  $2.913 billion
9. Medical instruments  $2.817 billion
10. Iron and steel   $2.274 billion

* Wal-Mart, the largest importer in the world of goods made in China, uses
several thousands of factories hidden across China. Wal-Mart refuses to
release even the names and addresses of these factories to the American
people.

* The largest country of origin for goods made for Kohl's is China.
* The "people's" republic  of China has a greater disparity in wealth than
even the U.S. -- with the bottom 20% of China's people controlling 5.5% of
the wealth, while the top 20% control 52.3 percent
* There is no middle class in China. The government tax on the purchase of a
new car is $1,205, while to install a phone costs $361, which is hardly
affordable for workers in China being paid 3 cents an hour in factories
producing goods for export to Wal-Mart.
* The Economic Policy Institute estimates that 870,000 jobs could be lost in
the U.S. over the next decade due to the massive growing trade deficit with
China.

In 2000, China's exports to the world included:
355 million batteries
73.3 million electric fans
14.6 million bicycles
83.2 million phones
53.3 million tires
39.5 million cameras
1.4 million tons of printed circuits
1.7 million tons of plastic products
247,000 tons of tools
3.24 million tons of steel
24.14 million tons of coal
42,003 tons of river eels
730.2 million loudspeakers
8.6 million T.V. sets




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