U.S. Trade Deficit With China Overview The United States international trade has been thriving over time. As of December 2012‚ Canada (total trade with U.S. was $616.7 billion)‚ China ($536.2 billion)‚ Mexico ($494 billion)‚ Japan ($216.4 billion)‚ and Germany ($157.3 billion) are the top five trade partners of U.S. In which the closest trade relationship of U.S. is with China (United States Census Bureau.) The United States has been trading with the People of Republic of China for a long
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Philippines recorded a trade deficit of 649074 USD Thousand in July of 2013. Balance of Trade in Philippines is reported by the National Statistics Office of Philippines. Philippines Balance of Trade averaged -236237 USD Thousand from 1957 until 2013‚ reaching an all time high of 1144700 USD Thousand in September of 1999 and a record low of -1658000 USD Thousand in November of 2011. Philippines posts regular trade deficits due to high imports of raw materials and intermediate goods. Main imports
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The trade deficit is a serious economic issue that consists of many pros and cons. A trade deficit is the amount by which a nation imports of goods (or goods and services) exceed its exports of goods (or goods and services) (Brue‚ Flynn‚ & McConnell‚ 2015). One instance that our nation experiences trade deficit is when we buy something from China‚ such as plane‚ there is a high tax to obtain that good. Most of the time America must finances the goods desired‚ causing an increase in the nation’s indebtness
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The causes of the large trade deficit of the US The undervaluation of the RMB The causes of the large trade deficit of the US A trade deficit is when a country imports more than it exports. As a matter of fact‚ in 2012‚ the US trade is preoccupied by a deficit reaching 539.514 billion. According to Robert E. Scott‚ the Director of Trade and Manufacturing Policy Research at the Economic Policy Institute in the US‚ there are three main factors that explain this phenomenon. He confirms that
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on Trade Balance in Selected Asian Economies Alemu‚ Aye Mengistu Assistant Professor‚ SolBridge International School of Business‚ Daejeon‚ South Korea. ayem2011@solbridge.ac.kr Jin-sang‚ Lee Specialist Professor‚ Duksung Women’s University‚ Seoul‚ South Korea. jinslee0209@duksung.ac.kr Abstract The aim of this study is to investigate how depreciation could affect the export sector in selected Asian countries. Theoretically‚ depreciation will bring positive impact on trade balance. However
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Japan posts China trade deficit Japan has a lower export revenue than import spending to the EU and China which led to the fall of their GDP by 0.9% - GDP=C+G+I+(X-M) a fall in X will lead to a fall in GDP‚ ceteris paribus - and as exports to their top export destination‚ China‚ decreases by a total of 12% ‚ Japan‚ one of the world’s top economies‚ will have another consecutive quarter of falling GDP‚ leading them into a recession. We can see a deflationary gap forming and a decrease in real
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the merchandise (goods) trade balance is the most widely known indicator of U.S international economic activity. In 2011‚ total merchandise trade has reached $3‚688 billion. A 16% increase over the 2010 value‚ a 22% increase in 2010 which is up to $3‚191 billion and a 23% decrease in 2009 which up to $2‚616 billion. From the data obtained above‚ merchandise exports in 2011 total is $1‚480 billion‚ while imports had reached $2‚208 billion. The U.S merchandise trade deficit fell massively from $816
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policies to reduce a balance of Payments Deficit 1. Devaluation. This involves lowering the value of the currency against others. · If there is a devaluation in the currency the price of importing French goods increases and therefore the quantity demanded falls. · Exports will be cheaper in price for the French and will increase the quantity of exports · Therefore we would expect a devaluation to lead to an improvement in the current account. However it does depend upon the elasticity of
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Introduction The US Balance of Payments (BOP) deficit is largely attributable to its massive current account deficit. The US has had a massive current account deficit since 1991‚ hitting an all time high of US$800 billion in 2005. "Never in the history of modern economics has a large industrial country run persistent current account deficits of the magnitude posted by the United States since 2000" (Edwards‚ 2005‚ p. 260). Accumulating consistent current account deficits mean that foreign countries
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In what ways has the sustained existence of a trade deficit influenced the conduct of macroeconomic policy in African states such as Tanzania? Since independence African states like Tanzania have sought to use macroeconomic policy to pursue economic development to meet their own agendas as independent states (Mkandawire‚ 2004‚ p295). States sought to assert their new status in the world whilst raising living standards for their people. The states’ ability to exhibit autonomy of action has been
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