A friend of mine wrote to the following. Your comments will be greatly appreciated!
"The Mandarin (pu-tong-hwa) word for China is "Zhong Guo", which means "Centre Land" or "Centre of the World". China truly is the centre of the world. In the 21st Century, China will rise to become the first truly powerful MEGAPOWER, leaving superpowers like United States, Russia and the EU in their dust. With a booming economy, a strong work ethic, and a government that has set its goals higher than any other nation, China is leaving other countries in their dust. The United States is in DEBT to China. Chinese is the world's most popular language. 24% of the world speaks Chinese. (Spanish is 5.5% and English is 4.8%.) Isn't it time you started learning Chinese? It is already more important than English as a language of business. - - -
As of May 24th, 2005, the United States owes China over $650 BILLION in debt. That number is expected to grow to over $1 Trillion during the next 2 years.
How is this possible?
In order to pay for its two recent wars in Afghanistan and Iraq, the Bush administration has been forced to loan money from, you guessed it, China.
Meanwhile the US Economy is slipping, and small wonder why. They are currently locked into a $162 billion/year trade deficit with China. The Chinese keep manufacturing products that Americans NEED and Americans keep on buying them. The problem is that the United States isn't manufacturing much in return and sending it back to China. In fact, they're manufacturing very little these days.
The airplane industry took a huge dive ever since September 11th. So the US isn't selling very many planes to China.
The automotive industry has went sour in the United States too. The major car manufacturers have moved out of the States. The funny fact is that Canada now builds more cars/trucks/SUVs than the United States does. And in the future, China is going to be building even more than Canada, the US, and Mexico combined............................................................................................... "
February 10, 2006
Rapid growth in oil prices, Chinese imports pump up trade deficit to new record
The U.S. Department of Commerce today reported that the international deficit in goods and services trade reached a record level of $726 billion in 2005, an 18% increase
over 2004. The U.S. merchandise deficit alone, which excludes services, was $782 billion, also an 18% increase. The overall deficit increased $1 billion in December alone, to the third highest monthly level on record. The goods and services deficit as a share of U.S. gross domestic product (GDP) increased to an unprecedented 5.8% in 2005 (Figure A ). Rapid increases in the price of oil and related products were responsible for 63% of the increase in the deficit. The growth of the trade deficit with
China, which reached $202 billion in 2005, was responsible for the entire increase in the United States’ non-oil trade deficit. The trade deficit in manufactured products
(net of refined petroleum) increased $46 billion, to $655 billion (an 8% increase)......................................."
To have cars or not-a critical choice for China
-by Lawrence J. Lau, Ph. D, of Stanford
stanford.edu.
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I did not pen the statements in blue. They can be found here -
v.webring.com
lilithgallery.com
epinet.org
RL |
