how much america spends on goods from china?

Propagandhi711 wrote:very very interesting article from the fed reserve of SF -

"Goods and services from China accounted for only 2.7% of U.S. personal consumption expenditures in 2010, of which less than half reflected the actual costs of Chinese imports. The rest went to U.S. businesses and workers transporting, selling, and marketing goods carrying the "Made in China" label. Although the fraction is higher when the imported content of goods made in the United States is considered, Chinese imports still make up only a small share of total U.S. consumer spending. This suggests that Chinese inflation will have little direct effect on U.S. consumer prices."


http://www.frbsf.org/publications/economics/letter/2011/el2011-25.html

Marathadi-Saamiyaar wrote:Smells like a hindian-type scandal and propaganda.

clothing/shoes (only) 35% from China?

Household equipment (only0 20% from China?

This past christmas, my hobby during shopping was to check labels of anything. Extremely hard to find anything that was made in US - not just the clothing.

DUT is a Looter Stooge and am not surprised at his unwavering support for the Looters.

MaxEntropy_Man wrote:haven't read the story yet, but i suspect there is a lot of american fluff -- marketing and rent to name two categories added to chinese made shoes and indian made shirts.

Propagandhi711 wrote:very very interesting article from the fed reserve of SF -

"Goods and services from China accounted for only 2.7% of U.S. personal consumption expenditures in 2010, of which less than half reflected the actual costs of Chinese imports. The rest went to U.S. businesses and workers transporting, selling, and marketing goods carrying the "Made in China" label. Although the fraction is higher when the imported content of goods made in the United States is considered, Chinese imports still make up only a small share of total U.S. consumer spending. This suggests that Chinese inflation will have little direct effect on U.S. consumer prices."


[url=http://www.frbsf.org/publications/economics/letter/2011/el2011-25.html

Propagandhi711 wrote:I guess the key is that we spend far more on other stuff than we realize: housing, food, energy, services such as health care, education, haircuts...it's just that a trip to wallmart affects our already heightened perception biases raised to fever pitch by political shills on TV and radio.

Propagandhi711 wrote:it was surprising to me as well. it's a case of perception being very different from reality.

Marathadi-Saamiyaar wrote:In that table, transportation, medical care, household operations(?) are overwhelmigly american....

REALLY?

Marathadi-Saamiyaar wrote:breakdown these expenses and how much of that is amerikan and Phoren.

Marathadi-Saamiyaar wrote:

Propagandhi711 wrote:I guess the key is that we spend far more on other stuff than we realize: housing, food, energy, services such as health care, education, haircuts...it's just that a trip to wallmart affects our already heightened perception biases raised to fever pitch by political shills on TV and radio.

In that table, transportation, medical care, household operations(?) are overwhelmigly american....

REALLY?

breakdown these expenses and how much of that is amerikan and Phoren.

charvaka wrote:I read the original article, and it sounds like they have accounted for intermediate products. So surprising as it sounds, the findings seem to be correct.

These two figures tell the story in more detail. As is clear from the table, the bulk of consumer expenditure is on services that are produced domestically for the most part. It is only in the clothing/shoes category that the bulk of products are imported, and China dominates that category, but the category itself is just 3.4% of total consumer expenditure.

Kris wrote:

Propagandhi711 wrote:it was surprising to me as well. it's a case of perception being very different from reality.

>>> I just saw the charts. From an overall expenditure standpoint on *all* the items (goods and services), the china imports will not add to inflation. The dent is very small.

Propagandhi711 wrote:

Kris wrote:

Propagandhi711 wrote:it was surprising to me as well. it's a case of perception being very different from reality.

>>> I just saw the charts. From an overall expenditure standpoint on *all* the items (goods and services), the china imports will not add to inflation. The dent is very small.

exactly. but that doesnt fit the narrative of labor unions and other assorted protectionist forces that like the easy demonization of an external entity that'll become a nice little sound bite.

ppl dont want to hear that it's the quickening of productivity that rapidly eats up prospects for the marginally skilled and not outsourcing of manufacturing. the marginally skilled are easily employable in housing industry which is why greenspan whipped up housing mania. that's also why the employment numbers wont improve until housing gets back to "normal".