Skyrocketing Trade Deficit
This chart comes courtesy of The Alliance for American Manufacturing via NPR’s Marketplace with Scott Jagow. If you click on the image, you can get a slightly larger view.
Have a look at the last three years. Figures show just how much our trade deficit with China has skyrocketed. The percentages in 2007, 2008 and 2009 climbed to 54%, 69% and 83%, respectively. The figure really can’t go much higher. We should only hope that when the rate does level off that national leaders don’t take the flattening as a political achievement.
“Poorly Made in China” can be seen as a backwards-looking assessment of the move to open wider the doors of trade with China. There were many things wrong with the decision, one that was made during the Clinton Administration in the 1990s. This increasing trade gap statistic is just one of the pieces of evidence.