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By investing in the country's manufacturing infrastructure, by providing the expertise, machines and software, China needs to produce world-class products, the world is also helping assemble the biggest, most sophisticated and most successful "illegal" manufacturing complex in the world. As China grows into a great power, the wealth transferred into the country by expropriating intellectual property will propel it forward.
E) The growing Trade Deficit
Another major impact of Chinese goods is the growing trade deficit between U.S. and China. The table and the graph illustrates the growing trade deficit between the U.S. and China. The bilateral deficit with China is a quarter of the U.S. total with all nations and has cost America 1.5 million jobs since 1989.
The 10 Largest U.S. Trade Deficits in Goods in 2004
| Country |
U.S. Trade deficit
(in billion dollars) |
U.S. Trade deficit with each country
(percentage of total) |
| China |
175.8 |
24.8 |
| European Union |
118.3 |
16.7 |
| Japan |
78.9 |
11.1 |
| Canada |
72.1 |
10.2 |
| Mexico |
47.0 |
6.6 |
| South Korea |
21.5 |
3.0 |
| Saudi Arabia |
17.3 |
2.4 |
| Nigeria |
15.6 |
2.2 |
| All Countries |
708.9 |
100.0 |
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* Contributed by -
Syam Krishna V. K. ,
B.Tech. (Prod. Engg.), Kerala University,
MBA 2007, DOMS, IIT Madras.
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