Photo: Mykl Roventine via Flickr
The Washington Post has a really good overview of US exports to China, and how this trade has developed.Of course, the US still runs a pretty massive trade deficit with China, but it’s getting less and less one-sided.
Exports to China have grown 468% since 2001, and 50% since 2008.
Bear in mind, this is all despite the famous Chinese protectionism, and a currency that’s artificially weakened, thus suppressing domestic demand.
As for the #1 export? It’s food.
Pretty much in every category, from soy beans to packaged goods to pork, sales to China are booming.
There are a few different reasons for this. A big factor is the well-known transformation of the Chinese diet towards being meat-based, which dramatically increases grain demand to feed livestock. Packaged goods also have a lot of appeal due to health and safety issues with domestic food products.
(Via Morning Money)