| xmas13 |
11-08-2007 04:37 PM |
Stock Prices, US Trade Deficit
http://www.rhsmith.umd.edu/news/opin..._11.08.07.html
Good reading.
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The sinking dollar against the euro and the pound does help boost U.S. exports, because American and European businesses, from Airbus and Boeing to French and Wisconsin cheese, compete for global markets. However, the monthly trade deficit remains close to $58 billion a month, because petroleum, consumer goods from China and automotive products account for about 98 percent of the trade deficit.
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However, following China's lead, the Banks of Japan and Korea have aggressively stepped up purchases of foreign currencies to keep the yen and won cheap and discourage Toyota, Hyundai and others from moving much more auto assembly and parts purchasing to the United States.
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China is lending America and the world 16 percent of its GDP, and subsidizing its exports to the tune of 45 percent.
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The White House should read this article. :winkwink:
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