Tags
Recent Comments
Receive "The World According to Tom Barnett" Brief
Where I Work
Where I write
Buy Tom's Books
  • Great Powers: America and the World After Bush
    Great Powers: America and the World After Bush
    by Thomas P.M. Barnett
  • Blueprint for Action: A Future Worth Creating
    Blueprint for Action: A Future Worth Creating
    by Thomas P.M. Barnett
  • The Pentagon's New Map: War and Peace in the Twenty-first Century
    The Pentagon's New Map: War and Peace in the Twenty-first Century
    by Thomas P.M. Barnett
  • Romanian and East German Policies in the Third World: Comparing the Strategies of Ceausescu and Honecker
    Romanian and East German Policies in the Third World: Comparing the Strategies of Ceausescu and Honecker
    by Thomas P.M. Barnett
  • The Emily Updates (Vol. 1): One Year in the Life of the Girl Who Lived (The Emily Updates (Vols. 1-5))
    The Emily Updates (Vol. 1): One Year in the Life of the Girl Who Lived (The Emily Updates (Vols. 1-5))
    by Vonne M. Meussling-Barnett, Thomas P.M. Barnett
  • The Emily Updates (Vol. 2): One Year in the Life of the Girl Who Lived (The Emily Updates (Vols. 1-5))
    The Emily Updates (Vol. 2): One Year in the Life of the Girl Who Lived (The Emily Updates (Vols. 1-5))
    by Thomas P.M. Barnett, Vonne M. Meussling-Barnett
  • The Emily Updates (Vol. 3): One Year in the Life of the Girl Who Lived (The Emily Updates (Vols. 1-5))
    The Emily Updates (Vol. 3): One Year in the Life of the Girl Who Lived (The Emily Updates (Vols. 1-5))
    by Thomas P.M. Barnett, Vonne M. Meussling-Barnett
  • The Emily Updates (Vol. 4): One Year in the Life of the Girl Who Lived (The Emily Updates (Vols. 1-5))
    The Emily Updates (Vol. 4): One Year in the Life of the Girl Who Lived (The Emily Updates (Vols. 1-5))
    by Thomas P.M. Barnett, Vonne M. Meussling-Barnett
  • The Emily Updates (Vol. 5): One Year in the Life of the Girl Who Lived (The Emily Updates (Vols. 1-5))
    The Emily Updates (Vol. 5): One Year in the Life of the Girl Who Lived (The Emily Updates (Vols. 1-5))
    by Vonne M. Meussling-Barnett, Thomas P.M. Barnett, Emily V. Barnett
Search the Site
Subscribe to Blog
Monthly Archives
Powered by Squarespace
« Global inequality: before America ruled and when America ruled | Main | Expensive oil as trigger for less exhausting ag land practices »
9:28AM

Chart of the day: US-China economic ties deepen across Great Recession

Click smaller image for larger version.

Go here for interactive one you can peruse in depth.

BusinessWeek post by way of Craig Nordin.

Some basics:

 

  • Both imports from, and exports to, China grow since 2008.
  • Chinese investment creates 8,000 US jobs in 2007 and now 27,000 in 2012.  "If investment from China remains on track, Chinese businesses will employ 200,000 to 400,000 Americans by 2020."
  • Applications for enterpreneur visas to US:  About 500 Chinese in 2008 equals about 40% of total, and almost 3,000 Chinese applications in 2011 = about 80%.
  • Chinese students in US up 135% since 2008 (84,000 --> 197,000).
  • Chinese holdings of US Treasuries up 158% since 2008.
  • Patent applications: 4-5,000 Chinese applications in US in 2008 and 10-11,000 in 2011; and US applications in China 24-25,000 in 2008 and 28-29,000 in 2011.
  • Top 10 US exports to China are power generation equipment, oil seeds and fruits, electrical machinery/equipment, vehicles, aircraft and spacecraft, optics and med equipment, plastics, pulp and paperboard, copper, organic chems.
  • Top 10 US imports from China are electrical machinery/equipment, power generation equipment, toys-games-sports equipment, furniture, footwear, apparel, plastics, iron and steel, vehicles.

It is dismaying to listen to the crude level of discourse in this presidential election regarding China.  Something to remember when we blame domestic Chinese politics on similarly crude behavior/talk from the Beijing.

Yes, the clever wags will point out that we've outsourced more jobs to China than they've created over here.  But the interesting point is that China is already creating jobs over here and that that number is growing rapidly. That tells you how quickly that worm has already begun turning. Moreover, while some of those jobs will invariably return as China's wages rise, most will simply continue their long-term global migration to the next great sources of cheap labor - as they should (unless you believe America should, for example, attempt to become the most expensive manufacturer of low-cost, low-tech items in the world).

 

Reader Comments (1)

Is the 27,000 jobs created a gross figure or a net figure? ie, even if the Chinese are creating jobs here, are they also still taking more away, and at what rate?

October 17, 2012 | Unregistered CommenterNate

PostPost a New Comment

Enter your information below to add a new comment.

My response is on my own website »
Author Email (optional):
Author URL (optional):
Post:
 
Some HTML allowed: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <code> <em> <i> <strike> <strong>