47 Signs That China Is Absolutely Destroying America On
The Global Economic Stage
http://theeconomiccollapseblog.com
‘Have you ever watched a
football game or a basketball game where one team dominates the other team so
badly that calling it a "blowout" would be a huge
understatement? Well, that is what China is doing to the United
States. China is absolutely destroying America on the global economic
stage. Once upon a time, the Chinese economy was a joke and the U.S.
economy was the most powerful the world had ever seen. But over the past
couple of decades the U.S. economy has decayed and declined while the Chinese
economy has skyrocketed. Today, China makes more steel, more automobiles,
more beer, more cotton, more coal and more solar panels than we do. China
has the fastest train in the world, the fastest computer in the world and they
export twice as much high-tech equipment as we do. In 2011, our trade
deficit with China was the largest trade deficit that one nation has had with
another nation in the history of the world, and China has now accumulated more
than 3 trillion dollars in foreign currency reserves. Every single day,
we lose more jobs, more businesses and more of our national wealth to
China. In technical economic terms, China has "taken us out behind
the woodshed" and has beaten the living daylights out of us. Unfortunately,
most Americans are so addicted to entertainment that they don't even realize
what is happening.
If you do not believe that
China is wiping the floor with America in front of the rest of the world, just
keep reading. The following are 47 signs that China is absolutely destroying
America on the global economic stage....
#1 Back in 1998, the United States had 25 percent of the world’s
high-tech export market and China had just 10 percent. Today, China's high-tech
exports are
more than twice the size of U.S. high-tech exports.
#2 America has lost more
than a quarter of all of its high-tech manufacturing jobs over the
past ten years.
#3 The Chinese economy has grown 7 times
faster than the U.S. economy has over the past decade.
#4 In 2010, China produced more
than twice as many automobiles as the United States did.
#5 In 2010, China produced 627 million
metric tons of steel. The United States only produced 80 million metric
tons of steel.
#6 In 2010, China produced 7.3 million
metric tons of cotton. The United States only produced 3.4 million metric
tons of cotton.
#7 China produced 19.8 percent of all the goods consumed in the
world during 2010. The United States only produced
19.4 percent.
#8 During 2010, we spent $365 billion
on goods and services from China while they only spent $92 billion on goods and
services from us.
#9 In 1985, the U.S. trade deficit with China was 6 million dollars
for the entire year. The final U.S. trade deficit with China for 2011
will be very close to 300 billion
dollars. That will be the largest trade deficit that one
nation has had with another nation in the history of the world.
#10 The U.S. trade deficit with China is now 28 times larger
than it was back in 1990.
#11 Since China entered the WTO in 2001, the U.S. trade deficit
with China has grown by
an average of 18% per year.
#12 According to the New
York Times, a Jeep Grand Cherokee that costs $27,490 in the United
States costs about $85,000 in China.
#13 According to the Economic Policy Institute, America is losing half a
million jobs to China every single year.
#14 The United States has lost a staggering 32 percent of its
manufacturing jobs since the year 2000.
#15 The United States had been the leading consumer of energy on
the globe for about 100 years, but during the summer of 2010 China took over the
number one spot.
#16 15 years ago, China was 14th in the world in published
scientific research articles. But now, China is expected to
pass the United States and become number one very shortly.
#17 China is also expected to soon become the global
leader in patent filings.
#18 In 2009, the United States ranked dead last
of the 40 nations examined by the Information Technology & Innovation Foundation
when it came to "change" in "global innovation-based
competitiveness" over the previous ten years.
#19 China now awards more doctoral degrees in engineering each year
than the United States does.
#20 China now possesses the
fastest supercomputer on the entire planet.
#21 China now has the
world's fastest train and the world's most extensive high-speed rail
network.
#22 The construction of the new $200 million African Union
headquarters was
funded by China.
#23 Today, China produces nearly
twice as much beer as the United States does.
#24 85 percent of all artificial Christmas trees are made
in China.
#25 Amazingly, China now consumes 53 percent
of the world's cement.
#26 There are more pigs in China than in the next 43 pork producing
nations combined.
#27 China is now the
number one producer of wind and solar power on the entire globe.
#28 Chinese solar panel production was
about 50 times larger in 2010 than it was in 2005.
#29 Right now, China is producing more than three times as much coal as the
United States does.
#30 China controls over 90 percent
of the total global supply of rare earth elements.
#31 China is now the number one supplier of
components that are critical to the operation of U.S. defense
systems.
#32 According to author Clyde Prestowitz, China's number one export
to the U.S. is
computer equipment. According to an article in U.S. News &
World Report, during 2010 the number one U.S. export to China was "scrap
and trash".
#33 The United States has lost an average of 50,000 manufacturing
jobs a month since China joined the World Trade Organization in
2001.
#34 Back in the year 2000, more than 20 percent of all jobs in
America were manufacturing jobs. Today, only about 5 percent
of all jobs in America are manufacturing jobs.
#35 Between December 2000 and December 2010, 38 percent of the
manufacturing jobs in Ohio were lost, 42 percent of the manufacturing jobs in
North Carolina were lost and 48 percent of the manufacturing jobs in Michigan
were lost.
#36 The average household debt load in the United States is 136% of
average household income. In China, the average household debt load is 17% of
average household income.
#37 The new
World Trade Center tower is going to be made with imported glass
from China.
#38 The new MLK memorial on the National Mall was
made in China.
#39 A Washington Post/ABC News poll conducted a while back found
that 61 percent
of all Americans consider China to be a threat to our jobs and economic
security.
#40 According to U.S. Representative Betty Sutton, an average of 23 manufacturing facilities a day closed down
in the United States during 2010.
#41 Overall, more than
56,000 manufacturing facilities in the United States have shut down
since 2001.
#42 According to Professor Alan Blinder of Princeton University, 40 million more U.S. jobs could be sent out of
the country over the next two decades.
#43 Over the past several decades, China has been able to
accumulate approximately 3
trillion dollars in foreign currency reserves, and the U.S.
government now owes China close to 1.5
trillion dollars.
#44 According to the IMF, China will pass the United States and
will become the largest economy in the world in 2016.
#45 According to one prominent economist, the Chinese economy
already has roughly
the same amount of purchasing power as the U.S. economy does.
#46 According to Stanford University economics professor Ed Lazear,
if the U.S. economy and the Chinese economy continue to grow at current rates,
the average Chinese citizen will be wealthier than the average American citizen
in just 30 years.
#47 Nobel economist Robert W. Fogel of the University of Chicago is
projecting that the Chinese economy will
be three times larger than the U.S. economy by the year 2040 if
current trends continue.
If the global economy was a
game, America would be losing very badly and China would have all the momentum.
Unfortunately, the global
economy is not a game. Very real businesses and very real jobs are
affected by this every single day.
Barack Obama keeps talking
about how "the economy is
improving", but the reality is that we have never even gotten
close to where we were back before the financial crisis of 2008.
The following chart (which I
pulled off a Fed website today) shows the average duration of unemployment in
America. Does this look like an economic recovery to you?....
The Obama administration tells
us that the official unemployment rate is only 8.5 percent, but that is a
joke. Even the Congressional Budget Office admits that the official
unemployment rate should actually be somewhere up
around 10 percent.
But the real story is the
number of long-term unemployed workers we have in America today.
According to the Hamilton
Project, approximately 53 percent
of all unemployed workers in the state of Florida were out of work for more
than six months during 2011.
But Barack Obama seems
absolutely amazed that there are still so many unemployed people out there
during his "economic recovery". Just check out the
following interaction that took place between Obama and one concerned wife
during a recent appearance by Obama on Google+....
"Can I ask you what kind of engineer your husband
is?," Obama said to the wife of the unemployed engineer.
"He's a semiconductor engineer," she responded.
"It is interesting to me -- and I meant what I said if your
send me your husband's resume, I'd be interested in finding out exactly what's
happening right there because the word that we're getting is that somebody in
that type of high-tech field, that kind of engineer, should be able to find
something right away."
Obama does not realize that it is not so simple to "find
something right away" in this economy.
We have been shipping high-tech jobs overseas at a blistering
pace. The jobs simply are not there anymore.
In Europe, unemployment is even worse. Just check out this chart
which shows what has been happening to youth unemployment in Europe recently.
In both the United States and Europe, a great disconnect has
taken place. Just because big corporations in the U.S. and in Europe are
doing well, that does not mean that they are going to provide good jobs for
workers in the U.S. and in Europe.
These days, it is way too easy for big corporations to ship jobs
over to places like China where it is perfectly legal to pay workers slave
labor wages.
So unless something changes, that means that from now on there
will be chronic structural unemployment problems in the United States.
That also means that the number of Americans dependent on
the government is going to continue to increase.
And unfortunately, there are signs that the economy is about to
experience another downturn. Consumer confidence in the U.S. is falling
once again. The Baltic Dry Index, which is often used as a measure of the
health of the world economy, has fallen more
than 60 percent since October.
Perhaps most importantly of all, Europe is heading into a
recession and several European nations are already experiencing depression-like
conditions.
Considering the fact that half of all global trade involves
Europe in some manner, that is not a good thing for us.
So if you have a job right now, you might want to hold on to it
tightly. Jobs are precious commodities at the moment, and they are going
to become even more scarce in the years ahead.’