Saturday, August 20, 2005

Trade War With China?

The Asia Times has a good long article on trade with China.Consider these facts:
While China's economy has grown by more than 9% annually for the past couple of decades and its gross domestic product soared from $147 billion in 1978 to $1.6 trillion in 2004, the US GDP, $11.75 trillion in 2004, was still far ahead at 7.4 times that of China. Because of the difference is population size, US per capita GDP in 2005 is $41,917 while that of China is only $1,411, a gap of almost 30 times. The US ranks 8th in the world in per capita GDP while China ranks 111th. In 2004, US per capita income was $35,400 while that of China was $960, a 36.8-times gap. The per capita income gap between the two economies, while closing at a dramatic rate, is still substantial.
This is the last of a six part series.