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Economy
In reply to the discussion: STOCK MARKET WATCH -- Thursday, 17 January 2013 [View all]xchrom
(108,903 posts)25. Study questions size of US-China trade deficit
http://www.irishtimes.com/newspaper/finance/2013/0117/1224328949479.html
The US trade deficit with China is much smaller than official data suggest, according to a year-long study that transforms the global picture of trade imbalances between countries.
In a joint study, the Organisation for Economic Co-operation and Development and the World Trade Organisation have for the first time highlighted the flaws in labels such as made in China and made in Germany by tracking the origin of components and services rather than final products.
The OECD and WTO said their investigation into how goods and services are actually produced highlighted the folly of trade barriers. Angel Gurría, head of the OECD, said: We have to think about goods and services as made in the world, forcing a radical change in how we need to look at trade flows.
According to the joint study, the US trade deficit with China in 2009 was not $176 billion but $131 billion or 25 per cent lower because much of the value of Chinese electronic exports include parts sourced from other countries. (Copyright The Financial Times Limited 2013)
The US trade deficit with China is much smaller than official data suggest, according to a year-long study that transforms the global picture of trade imbalances between countries.
In a joint study, the Organisation for Economic Co-operation and Development and the World Trade Organisation have for the first time highlighted the flaws in labels such as made in China and made in Germany by tracking the origin of components and services rather than final products.
The OECD and WTO said their investigation into how goods and services are actually produced highlighted the folly of trade barriers. Angel Gurría, head of the OECD, said: We have to think about goods and services as made in the world, forcing a radical change in how we need to look at trade flows.
According to the joint study, the US trade deficit with China in 2009 was not $176 billion but $131 billion or 25 per cent lower because much of the value of Chinese electronic exports include parts sourced from other countries. (Copyright The Financial Times Limited 2013)
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