While it seems as though everything we buy these days is Made in China, it is surprising that less than 2% of U.S. consumption actually comes from goods and services from China (see Federal Reserve study attached below). At the same time, Chinese manufacturing enables U.S. companies to compete more effectively in non-U.S. markets, enabling those companies, from Apple and Intel to Nike and Walmart, to thrive around the world. Meanwhile, Chinese manufacturing gives U.S. consumers more purchasing power -- clothes and computers are cheaper. Almost certainly, America is better off because of the success of China. But the gains from trading with China are not evenly distributed. Still, China alone certainly does not account for high U.S. unemployment. What is the right policy going forward?
To read the full, original article click on this link: Is America better off or worse off because of the success of China? | LinkedIn
