Scholz tells Xi he wants to ‘deepen’ economic ties with China


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[–]El_Perfecto_Hidalgo 3 points4 points5 points  (2 children)

US exports to China: $164.9 Billion ( 0.8% of GDP)
US imports from China: $450 Billion (2.14% of GDP)

But those numbers are worthless without context of a $21 Trillion economy. Which is why I offered percentages and categories.

In raw numbers, China imports nearly $150 Billion in various foods each year. That's over $100 per person even in their populous country where food is comparatively cheaper.

So imagine a nationwide fortnight-long fast to end every year because China runs completely out of food..That's what I call reliance. Not having to delay some cell phone towers and invest in new factories in Indonesia. Labor costs in Mexico are lower than China right now.

The US has options. China has much more to lose from shrinking trade with the US and a total trade of less than 3% of GDP to me is not "very much reliant" anymore than any other two developed nations in this massive global economy.

I mean misfortunes in many countries involved in shipping lanes are contributing to supply chain issues. Are we all going to admit to being "reliant" on Iran because they administer the Strait of Hormuz? Think of how much oil flows out of there and how much production is done on that energy. I'd say we're all at least as reliant on that as substitutable and/or non durable goods from China.

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