U.S. - China Statistics Some Observations Dr. Andrew L. H. Parkes “Business Economics II” 卜安吉

December 13, 2011BECO Day 52 Table 1: Trends in Exports  U.S. export growth to China was dropping in 2007, before the financial crisis began.

December 13, 2011BECO Day 53 Exports From China

December 13, 2011BECO Day 54 Table 1 continued With the exception of 2009, the trade surplus with America became larger. Overall U.S.-China Trade Balance

December 13, 2011BECO Day 55 Table 1 continued At the end of 2010, the U.S.-China trade deficit was $273.1 billion Or to look at it from the U.S. side, the trade deficit became larger

December 13, 2011BECO Day 56 Table 2: Top Exports  Electrical Machinery and Equipment  Power Generation Equipment  Oil Seeds and oleaginous fruits - Cooking Oils Note Aircraft and Spacecraft will most likely become very small soon. Also note the increase in “Vehicle” Export growth to China at 134%!

December 13, 2011BECO Day 57 Table 2: Top Exports  Boeing for how long? 787 below

December 13, 2011BECO Day 58 Table 3: Top U.S. Imports  Electrical Machinery and Equipment  Power Generation Equipment Fuan Topower Electrical Machiney CO.,LTD.

December 13, 2011BECO Day 59 Table 3: Top U.S. Imports  Electrical Machinery and Equipment  Power Generation Equipment

December 13, 2011BECO Day 510 Table 3: Top U.S. Imports Apparel (Significantly Less, yet still growing)

December 13, 2011BECO Day 511 Table 3: Top U.S. Imports Toys, games, and sports equipment

December 13, 2011BECO Day 512 Table 3: Top U.S. Imports Furniture

December 13, 2011BECO Day 513 Table 4: China’s World Trade  Import growth recently was greater than export growth > % change  (latest 3 years) A Significant Trade Surplus yet falling

December 13, 2011BECO Day 514 China’s World Trade In examining China’s import growth, let’s notice the fact that oil was up 100% (not from demand, prices are up 100% from last December), iron ore is up 42%, copper is up 63% (the price of copper is up 274%) and aluminum is up 164% - did quantity demanded change, just the prices or both?? – A note to remember from 2009 as oil prices again are $95! In examining China’s import growth, let’s notice the fact that oil was up 100% (not from demand, prices are up 100% from last December), iron ore is up 42%, copper is up 63% (the price of copper is up 274%) and aluminum is up 164% - did quantity demanded change, just the prices or both?? – A note to remember from 2009 as oil prices again are $95!

December 13, 2011BECO Day 515 Table 5: China’s Top Exports To the World - the same top three as to America  Notice the growth rates of 3 categories: Iron & Steel, Ships & Boats, Vehicles

December 13, 2011BECO Day 516 Shipbuilding in China

December 13, 2011BECO Day 517 Table 6: China’s Top Imports Raw materials Ores, slag and ash – for production

December 13, 2011BECO Day 518 Table 6: China’s Top Imports Chemicals, copper, iron and steel Also medical equipment and optics growth rates are high!

December 13, 2011BECO Day 519 China’s Raw Materials Imports

December 13, 2011BECO Day 520 Table 7: Trade Partners U.S. is top, however the growth is least and Europe is NOT a country (yet!) The European 27 (EU) is bigger than the U.S., however.

December 13, 2011BECO Day 521 Table 7: Trade Partners Greatest growth in Australia, Brazil, Malaysia and India, which makes sense yet still significantly less in the volume of trade

December 13, 2011BECO Day 522 Table 7: China’s Trade Partners Exports to ASEAN in January and February, 2010 totaled billion U.S. dollars, a year-on–year increase of 52.9%, far faster than that to the United States and the European Union in the same period. Note the diversification in China’s Trade Reported by China International Capital Corporation

December 13, 2011BECO Day 523 Table 8: Export Destinations  U.S. is top as expected  Hong Kong usually tends to be an intermediate destination for further export Of course much of HK – China trade is mutually beneficial … to each other.

December 13, 2011BECO Day 524 Table 8: Export Destinations  Japan comes in lower but still significant  Europe as a group is large with Germany and the Dutch being strong economies but Italy at over 50% growth!

December 13, 2011BECO Day 525 Table 9: Import Suppliers  Japan, South Korea, and Taiwan lead  U.S. is also significant and growing well

December 13, 2011BECO Day 526 Table 9: Import Suppliers Again the countries that pop out:  Australia and Malaysia with over 50% growth rates!

December 13, 2011BECO Day 527 Growth in World Trade and GDP, a Figures for 2011 are projections, Source: WTO Secretariat. Annual % change

December 13, 2011BECO Day 528 Volume of world exports =100 – Base Year for the Index