Despite recalls, China's trade surplus up 67 percent

[OhioChick]

Source: AP

Saturday, August 11, 2007

BEIJING -- China's trade surplus soared 67 percent in July from a year ago to its second-highest monthly level on record, according to data reported yesterday.

China is an important market for many Louisville-area companies. Much of Yum! Brands' recent growth has come from KFC openings in the country and UPS is devoting more cargo flights to China.

July's surplus totaled $24.4 billion, the Chinese customs agency reported. That beat every previous month except June's all-time high of $26.9 billion.

Analysts had expected the surplus to ease in July after exporters rushed to ship goods in earlier months to beat changes in tax policy meant to narrow China's yawning trade gap.

The surplus grew despite recalls and warnings targeting faulty or tainted Chinese goods ranging from toothpaste to toys to tires to seafood in the United States and other countries.

Read more: http://www.courier-journal.com/apps/pbcs.dll/article?AID=/20070811/BUSINESS/708110401/1003

[NYVet]

1. And this is NOT a good thing.

We really need to rebuild our manufacturing base, whatever it takes.

I think that we should treat goods from countries we trade with the exact same way that they treat our goods that we send them.

[Jim Warren]

2. Ain't gonna happen

Not as the the world is now ordered. The factories are in China and the oil is in the Middle East.

The only thing changing that order would be a world war.

[brentspeak]

3. You can say that again

"Free trade" apparently means that China is "free" to prevent our goods from being imported while simultaneously exporting to us as much junk as they can crank out.

[NYVet]

5. Then we need to change the laws

Screw the "global market" people, trade means that we send our good overseas and they send us theirs. It is not supposed to be a one way street.

[OhioChick]

6. You Got It. n/t

[TheFarseer]

4. Thanks again Walmart

It's going to be hilarious when they nationalize all those factories. I hope they do just to f*ck over all the traitors in this country that shipped our manufacturing base overseas. I read that China does 50% of the manufacturing in the world now - and WE are supposedly the lone superpower in the world? Who says? China will let us think that until they are ready to take us out behind the woodshed, economically, militarily or however else they want.

[Omaha Steve]

7. Dear Lord, get us out of Iraq....

And China! Thanks OhioChick.

K & R!!

OS

[OhioChick]

8. I Couldn't Agree With You More, Steve.

:hi: