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Politics : Foreign Affairs Discussion Group

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To: Keith Feral who wrote (147659)	10/12/2004 9:06:59 AM
From: jttmab	Read Replies (1) of 281500

A 4 fold increase in the price of gas from $2 to $8 would certainly cripple the competive advantage of cheap labor from China. Maybe the end to global imperialism will take place because of the full realization that consumer goods cannot be made in foreign sweatshops and shipped to the US at 10 times the cost. The demand push for goods and serivces is under tight surveillance. The underlying thought that increases in oil prices are advantageous to the US in global markets is very interesting. Though a 4 fold increase in gas translating to a 10 fold increase in the full production cost overseas is a bit of hyperbole. But I'll accept your claim as "notional". You may recall that gasoline prices hit a high on May 26,2004. US trade deficit swells in June [2004] The US trade deficit has unexpectedly swollen by 19% to a record $55.8bn (£30.4bn) in June. The country suffered the biggest drop in exports in nearly three years, just as imports hit record levels. Wall Street economists had expected the gap to widen, but had predicted a gap of just $47bn. Economists said the growing deficit was likely to force the government to revise downwards its forecast of 3% economic growth in the second quarter. news.bbc.co.uk In July...... U.S. trade deficit falls to $50.15 billion Exports rose in July as oil prices declined The Associated Press Updated: 9:08 a.m. ET Sept. 10, 2004 WASHINGTON - The U.S. trade deficit fell to $50.15 billion in July as American exports of cars, airplanes and computers rose while imports declined for the first time in nearly a year, reflecting a drop in the country's foreign oil bill. The politically sensitive deficit with China hit an all-time high. msnbc.msn.com In Aug... U.S. Trade Deficit Declines in August (Falling oil prices helped narrow deficit) By Merle D. Kellerhals, Jr. Washington File Staff Writer Washington -- The U.S. trade deficit narrowed in August to a seasonally adjusted $29,441 million largely because of lower energy prices. hongkong.usconsulate.gov Would you like to elaborate on why you think that higher oil prices are favorable to the US in the global markets.? jttmab

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