Galina Hale and Bart Hobijn, two economists at the Federal Reserve Bank of San Francisco, have written the report "The U.S. Content of 'Made in China.'"
What do Americans spend on Chinese products that we complain is so enormous it ruins our economy?
It is the fraction of U.S. consumer spending for goods made in China. Hale’s and Hobijn’s data sources are from the U.S. Census Bureau, the Bureau of Labor Statistics and the Commerce Department's Bureau of Economic Analysis.
Total imports were about 16 percent of U.S. GDP in 2010 but only 2.5% came from China. Chinese items accounted only for 2.7% of U.S. personal consumption. That represented about one-quarter of the 11.5% from foreign sources. (See the Earl J Weinreb NewsHole® comments.)
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