Word: china
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Chicken Parts and Tires But the same Americans who speak darkly of the China effect routinely seek out the least expensive cell phones, televisions and clothing and demand that companies whose stocks they invest in show double-digit profit growth. Procter & Gamble needs the supercharged gains of its Oil of Olay brand in China to remain compelling to investors. The Otis Elevator Co., a unit of United Technologies, makes great elevators, but it's China that's erecting thousands of skyscrapers. And the same Chinese who snap up copies of China Is Not Happy seek business deals with American companies...
...benefits have flowed in both directions. Take Walmart. By some estimates, over the past several years, the retailer alone has accounted for 15% of U.S. imports from China, which would mean in excess of $30 billion this year. As those goods enter the port of Long Beach, Calif., they require American workers to offload them, American trains and trucks to ship them and American workers to sell them. None of those facts are visible in the trade statistics, yet they are real. And take a company like Schnitzer Steel of Oregon, a once regional company that collects and sells scrap...
...pictures of the making of modern China...
...brief history of U.S. Presidents in China...
...fair to say that the relationship between China and the U.S. is not something that most Chinese or Americans like. Say China to many Americans, and they will speak of cheap and potentially dangerous products, unfair trade practices, human-rights violations and outsourcing. Mention the U.S. to many Chinese, and they will speak of arrogance, mismanagement of the economy and hypocrisy. One of the most popular books in China this year is China Is Not Happy, and the source of that unhappiness is an overly dependent relationship with the U.S. The two governments share some of those anxieties. Beijing worries...