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In previous thread, Chinese trade surplus too reliant on US - Part 1 available at http://www.econotimes.com/Chinese-trade-surplus-too-reliant-on-US--Part-1-70096 we have shown how China's annual trade balance (goods) roared from $ 83 billion in 2000 to $343 billion in 2014 and China is too reliant on US for its growth, forex and trade surplus.
In this follow up piece, the above chart shows the point of view from US side.
As it is quite clear from the chart as per latest data that US trade deficit is too concentrated and most of the deficit almost 50%, actually due to China.
According to our view, US lawmakers are likely to address this issue over the coming years and would frame up policies to tackle the problem.
US will try to diversify its importing countries and geo-politics would be one of the key driver behind it. US lawmakers will work to reduce the influence of China and Russia over Globe.
Statistics -
- US recorded $62.26 billion in trade deficit for May, 2015 and almost 50% of those deficit came from China. US deficit with China in fact rose by $3.1 billion to $30.6 billion.
US policymakers are likely to pursue policies to discourage such huge deficit with China going ahead.
