Wednesday, January 19, 2011
"#13 China has accumulated the largest stockpile of foreign currency reserves on the entire globe - $2.85 trillion."
The following are 25 facts that show just how badly China is whipping our butts in the arena of global trade right now....
#1 The U.S. trade deficit with China increased by 26 percent during 2010.
#2 Since China entered the WTO in 2001, the U.S. trade deficit with China has grown by an average of 18% per year.
#3 The United States has now had a negative trade balance every single year since 1976.
#4 The U.S. trade deficit with China during August was more than 4,600 times larger than the U.S. trade deficit with China was for the entire year of 1985.
#5 According to a new report from the Economic Policy Institute, between 2001 and 2008 lost 2.4 million jobs due to the growing trade deficit with China. Every single state in America experienced a net job loss due to our trade deficit with China during this time period.
#6 China is now the number one producer in the world of wind and solar power.
#7 Back in 1970, 25 percent of all jobs in the United States were manufacturing jobs. Today, only 9 percent of the jobs in the United States are manufacturing jobs.
#8 China now possesses the fastest supercomputer on the entire globe.
#9 Back in 1998, the United States had 25 percent of the world’s high-tech export market and China had just 10 percent. Ten years later, the United States had less than 15 percent and China's share had soared to 20 percent.
#10 China now has the world's fastest train and the world's biggest high-speed rail network.
#11 The United States has lost a staggering 32 percent of its manufacturing jobs since the year 2000.
#12 The United States had been the leading consumer of energy on the globe for about 100 years, but this past summer China took over the number one spot.
#13 China has accumulated the largest stockpile of foreign currency reserves on the entire globe - $2.85 trillion.