China Trade Surplus Hits New Record
China ran a record-high trade surplus in 2022 of $878 billion, equivalent to about 4.8% of its GDP.
China ran a record-high trade surplus in 2022 of $878 billion, equivalent to about 4.8% of its GDP.
Rising levels of foreign direct investment by China into Mexico enables tariff-avoiding shipments of Chinese goods and parts into the U.S.
U.S. steel imports from Mexico have surged despite a 2019 U.S.-Mexico agreement to maintain steel imports at past levels.
U.S. pharmaceutical imports have skyrocketed in the last ten years, with imports from China, India and Mexico leading the surge.
The U.S. Private Sector Job Quality Index (JQI) rose by a slight 0.03% 81.03 in September as both low-quality and high-quality jobs rose.
The top 5% and top 20% of U.S. households have enjoyed most of the gains in U.S. GDP since 1970. Bottom 20% have seen almost no gains in 50 years.
Greater import dependence makes countries more vulnerable to price shocks.
U.S. market share in the solar industry has increased since solar tariffs were enacted.
Corporate profits grew by double and sometimes triple digits during the COVID-19 pandemic. Worker wages did not.