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.
The capitalists will borrow the money from us to buy the rope from us with which we will hang them…
It’s not Capitalists that are doing the borrowing, but they will hand with the Statists that are.
We seem to be in a new cycle of empires rising and falling.
In the 19th century, the British Empire was dominant. By the beginning of the 20th century, the British Empire was in decline.
For most of the 20th century, the American Empire was dominant. By the beginning of this century, the American Empire was in decline with the Chinese Empire on the ascendancy.
If this trend continues, the Chinese Empire will last about a century before they too are replaced by someone else.
The new empires don’t seem to have the longevity of the older empires, and burn faster and hotter before they expire.
we are at an end to the arrogant AMerican Empire….the “indispensible nation” of ALbright….
That’s right. No empire lasts forever. Sad but true. Looks like it’s America’s turn to fall now.
If it were not so, we would be using Roman currency to make our daily transactions, and Rome would be the center of world power in 2012. After all, the Roman Empire was supposed to last forever, right?
Uh-huh.
I’d love to see the expression of those Malaysian archaeologists 300 years from now, as they dig up and examine the remains of our American culture.
Will Taxpayers Be On The Hook For American Airlines’ Pensions?
More corporate welfare. When are the right wingers going to focus on the real issue–corporate welfare and welfare for the rich?
I would even go out on a limb and say that most of what the military does is corporate welfare.
I honestly do not understand why the right always focuses on the meager safety net for the poor and ignore this 800 pound gorilla.
Gary2,
True conservatives know that corruption exists in both the corporate arena and in entitlement programs. That’s why they oppose the corruption being funded through tax increases. When will liberals admit there is rampant corruption within entitlement programs and focus on addressing both issues? Instead of demanding tax increases to keep supporting corruption? Liberals should join true conservatives in their efforts to work both issues. Social issues like abortion and gay marriage aren’t going to matter much when the US goes down in flames from overspending in both areas.
agreed there is corruption with entitlement programs. Would not call it rampent as many studies show the scamming the system to be between 3%-5% which needs to be dealt with harshly. However, with limited resources I would much rather the corporate welfare which is really rampent and costs WAY more than programs fdor the poor be dealth with first.
We do not disagree but you need to go where the real problem is namley corporate welfare.
once again, re-shuffling thedecks between “true conservatives” vs “even more true conservatives”,etc,etc.
Lets drop meaningless terms…….
Like the tea Party was supposed to be a “true conservative” movement, but is a sham….
Actually, America is going down over child murder (abortion) and gay “marriage” (sodomy)
Like a “true conservative” you are missing the point clinging to economics,etc.
Have you never read the Bible, which is littered with nations that broke God’s moral laws and hence, after warnings and time, were wiped out-Carthage, Sodom,Assyria,Rome, Israel,Egypt,etc,etc.
Gays are causing corporations to ship jobs overseas?
I have been saying for a few years now, because of political corruption, corporate/political greed, moral destruction, and removal of God (not religion but the acknowledgement of God), He Has Removed His Hand from protecting this country. Thanks liberal politics for destroying this country.
Liberals…conservatives…again, more useless marxist terminology of “them” vs “Us”, ever vague….
How about Christian world view vs pagan….Christ vs Antichrist..not some false man made “conservative/Liberal” paradigm?
According to Zerohedge the Chinese economy is supposed to not be so good this year. Probably over expanded like so many now, China plugs along so fast they don’t even notice recessions.
#31 China is now the number one supplier of components that are critical to the operation of U.S. defense systems.
And thank God for that too. Let the Amerikan Empire and its Rothschild puppeteers try to start a global war, like they’re attempting to do against Iran right now, and the Chinese will nip that right in the bud.
Since no one, especially Amoricons and their rulers, ever learns anything from history, it comes as no surprise that no one inside the the Crapitol Beltway knows that the European Imperial powers on the eve of Word War I faced exactly the same situation. Each of the major players (Britain, France, Germany) controlled, via their colonies, different sources of raw materials crucial to the other powers’ war efforts. Once the hostilities started, each realized that the other side had them by the proverbial gonads in some crucial way. Fast forward nearly a century. Amerika, already in decline, without the viable industrial base that it had in the past, and with a “workforce” so enstupidated by public “education” as to be useless is going to find itself in a position that will make Britain, France, and Germany of the early 20th Century look like invincible titans by comparison.
You say their leaders never learn anything, which I agree with (at least the past few presidents.) However many Americans, don’t want war in the Middle East.
I suggest you do a little bit of reading and research. The illuminati/nwo sponsor both sides 0f every major war. A war between China and USA would help them with their agenda, no matter what party wins.
And, this is surprising, how? The chinese implemented one child per family and are reaping the benefits, economically, socially and politically. We, on the other hand, are the largest growing western country, consuming 25% of the world’s energy with 5% of the population, and refuse to make the hard choices that would return us to dominance:
1. Limit our overseas military engagements
2. Control our population growth and hence demand for more more more handouts from the gummint
3. Cancel or severely curtail giveaway programs like H1B and overseas profit hiding.
4. Make educational achievement more competitive, rather than less, so children *do* get left behind and pahrunts realize that education really, really, *is* a privilege. Not everyone has the right to a college degree, and if it were more of a meritocracy and less of a moneytocracy, the resulting contraction in the bloated edumacational industry would result in better educated, more competitive Americans.
5. THe language of the U.S. is English.
6. Social security, as originally intended, is a fine program. As a trough for immigrants bringing in their worthless relatives simply to take advantage of the handouts, no. Not a citizen – no Social Security or Medicare or Medicaid, unless you *prove* you’re on your way to a green card *and* pay taxes while you’re here. If you can prove you’re a refugee, that gets you a fast track to a green card (and – no job, no taxes, back you go!)
7. Single payer medical insurance – citizens should not be denied it, get the MedInsurance companies out of the trough, too.
But, until this country makes some fundamental changes in how it thinks, until it stops feeling entitled at every level and until companies cannot buy elections, we’ll never be able to close the gap with China.
Practical suggestion: Time to learn Mandarin, our lords and masters will soon demand it.
“2. Control our population growth and hence demand for more more more handouts from the gummint”
how fascist and pagan of you….control families? really? by what menas? Issue them permits, Margaret Sanger?
I think he means close the borders and send the interlopers back home. Open borders are killing us.
I think what he meant was to close our borders and send the interlopers back home. Open borders are just killing us.
The world as a carrying capacity, a limit.
Yes. Basically, if you are in hard times and need help, gov’t. help amounts to 1 child only. You are on your own for the other children. Just like a friend of mine who is 38 and has never had a full time job. His wife does work making $9-10 an hour. They have three kids ages ranging 7-16. They have always received food stamps and get 10 thousand dollars back on taxes every year so they say. I on the other hand am unemployed due to business going bankrupt, single without kids, made approximately same wages, and was refused food stamps. Go figure!!! In fact, the friend cried more (when his 4th child died) because they lost his social security check over crying for his death. And everyone wonders why this country is bankrupt.
larger families might in fact grow an economy in workers, owners and consumers……lords and masters? Yeah, like population controllers….
“Larger families might in fact grow an economy”
Yep, works great. Just look at the numbers and see what all the growing economies have in common when it comes to family size. Don’t even have to look at China, look at Brazil. *smaller* families and reduced growth == more economic clout.
And remember Godwin’s law.
Yes let’s all breed; have10 kids and not have jobs to pay for their health & education, no mention to their own employment (non)future while turning to federal programs for support that isn’t there. And keep your God talk away from this topic. God is not necessary for doing the right thing.
Giant panda rising!! Banzaiiiii!!
Oops, “Banzai” is a Japanese word. Sorry.
(a side note – anyone who knows history, knows that the Chinese and Japanese are not exactly the best of friends.)
What I would really like to see in this web site, either from the author or his multi-faceted readers IS A TREATICE that explains how to fix the problems that this web site goes to inordinate lengths to examine, ad infinitum.
So lest you be accused of being boring, or cry wolf, I think we now know Mr Author that you say each and everything that’s being done is a disaster.
So, what’s the solution…in detail ?
And please don’t pin your hopes of any Republican or Democrat politican or party. The change starts from the likes of you. So how about showing jsut what that change should encompass. Or is that too hard and being negative is just too easy, like a Rupert Murdoch news site. All doom and gloom, death and violence. Boring.
We are going to reap what we have sown. http://www.addictedtowar.com Read free the book with illustrations. In the left hand column click om Read the book.
Good overview of facts. The question is: how can this happen, what is behind this?
Here a link (from 2006 I guess) that tries to explain why China is up and the USA is down:
http://www.bibliotecapleyades.net/sociopolitica/sociopol_globalelite06.htm
Sadly, China is also destroying it’s workers with 20 hr work days, poverty wages and threats of unemployment if they complain! Everyone knows… it can’t last forever.
A fair point
I’ve been living in China and learning the language and culture with my two teenage sons for two and a half years. It can’t last forever but long enough to finish ruining us. Anything negative is considered a conspiracy theory. It’s no use even talking to people. Enjoy Mitt Romney or Obama or whoever.
Thanks for your informative article, Michael.
You have been publishing many pretty clear, great and comprehensive articles here!!
Readers here may wish to read this corporate MSM article too:
“Expect China to Shape the Next Bretton Woods Pact: Philip Coggan – Bloomberg” (2012-02-03)
http://bloom.bg/w8hbyl
While you’re there, don’t miss the commentary section, some comments are terrifically insightful
What I do not understand, the writing has been on the wall for the past 20 years, congress is not doing anything about it.
In 1941 we had the factories to retool for war, with our factories in china, how are we supposed to retool?
I imagine that if the US and China ever went to war, the US would be on the loosing side. Our manufacturing jobs are gone, and our young adults are lazy.
Gone are the days when young adults talked about going to work at the shipyard, or at a factory. Those jobs have been replaced by fast food and electronics stores.
Well don”t forget that more than half of the goods exported by China are produced by foreign companies established in China.
It is not only welcomed growth in Asia it is as well a run for profitability by those same people who pretend they are the one creating jobs in the USA.
If we want the whole world to have a decent living , then we should not be surprised that the most dynamic and daring ones are growing so fast.
It is not the end of the empire, it is America in front of its own rules: victory to the best ones.
We just need to take the challenge and accept competition that we subsidize indirectly.
What doesn’t make sense, is that the U.S. economy might be crumbling, but they still have the most advanced military weapons on the planet. The U.S. spends more on it’s military than any other country in the world.
It’s crazy to see crumbling infrastructure — roads cracked and neglected — yet the U.S. has brand new high-powered sniper rifles that can be mounted on unmanned-drones that fly in the air, and shoot at targets with accuracy of up to 1.5 kilometres and can be shot “video game style” from a soldier on the ground. How’s that for Military technology?
All that money wasn’t spent on school for a kids education. Nor a new paved road. Nope, that money was spent so snipers can shoot peoples heads open effortlessly from a mile away.
Normally when you have dilapidated roads, underfunded schools, etc, you are talking about a developing third world country. So the disconnection between a crumbling economy, and the worlds’ most advanced military seems odd.
You can’t help but feel it’s by design — on purpose, with a small group of men calling the shots.
America immigrates tons of talent — the worlds best. Some of the brightest brains coming out of Harvard aren’t assigning themselves to finding cures for cancer, instead, they are snapped up by firms like Goldman Sachs to find new algorithms to make investors even more money.
I’m just not convinced that the American elite “threw in the towel”.
I think they are purposefully letting China feel confident about it’s economy. Perhaps to the point where China feels even “cocky”, and confident. Fact is, even the Chinese economy will eventually collapse. They have negative population growth.
The only reason why capitalism works in America, is because of the steady stream of immigrants. It’s why all (formerly) white countries immigrate people — they are all dependent on population increases for their capitalist ponzi schemes. It’s not rocket science. Japan doesn’t immigrate people because of their nationalism, but, witness their stagnant economy — something that would never be tolerated by American Investors looking for an easy buck.
China has a one-child policy, and relatively zero immigration. After the Chinese farmers sell their farm and “convert” to wage slaves and go work in the industrial cities, a critical threshold will eventually be reached, and watch their economy collapse.
I think what’s happening is by design — it’s being engineered on purpose for a specific outcome. And it’s usually for America’s interests. So I believe there is a “man behind the curtain” calling the shots. I think the American economy is being put on it’s back in a submissive stance for some sort of larger scheme.
Other wise, if there really isn’t any man-behind-the-curtain orchestrating this, then everyone really is in deep trouble.
Brazil is desperately needing engineers of all sorts and IT professionals NOW! But all the interested unemployed engineers and IT experts and undergratuated students must study Portuguese!