SEARCH BLOG: CHINA and ECONOMY
Despite some who feel that concerns about China's economic policies and military goals are unfounded, there are some well-informed people who express concern. Recently, Peter Morici, professor at the Smith School of Business, University of Maryland School, and former chief economist at the U.S. International Trade Commission, had this to say:
In the second quarter overall, imports grew so much more rapidly than exports that the growing trade gap subtracted 2.8 percent from growth.
But for the increase in the trade gap, GDP would have grown 5.2 percent instead of 2.4 percent. At that pace, unemployment would fall by 2013 to less than 5 percent, the level accomplished the two years prior to the Great Recession. ...
China recognizes Obama isn't likely to counter Chinese mercantilism with strong, effective actions; hence, it offers token gestures and cultivates political support among U.S. businesses like General Motors profiting from investments in China. [full story]That's a "twofer" for China: U.S. weakens economically and becomes more in debt to China while China becomes more economically and militarily powerful. Sure, China has its problems, but
- Yttrium, Scandium and Dysprosium sound like planets in a sci-fi movie...
- Mercantilism Reconsidered
- The Revenge Of Mercantilism
- China: It's Not About Economics
- Why indulge authoritarian China? Peter Morici