Word: chinas
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...1990s with Japan, which accounted for the bulk of the U.S. trade deficit in those days. The trade deficit with Japan never shrank much in dollar terms, but it became smaller as a share of GDP starting in the mid-1990s, and was eclipsed by the trade imbalance with China in 2000 (in September the U.S. trade deficit with Japan was $4.1 billion, compared to $22.1 billion with China). The issue was never resolved, but it ceased to seem so important. Could that happen with China...
Probably not. There are two crucial differences. One is that much of today's U.S. trade deficit comes from U.S.-based corporations selling products at home that were partly or entirely made in China. As a result, the trade relationship with China has become far more ingrained in the economic fabric of the U.S. than that with Japan ever was. Some evidence: in the first nine months of 2009, the global economic slowdown cut the U.S. deficit with Japan 47% compared with the first nine months of 2008. The deficit with China dropped just...
...even more important difference is that the stakes are higher with China. Japan seemed like a fearsome economic rival a quarter-century ago, but it wasn't really a political rival and, with a population less than half that of the U.S., it was unlikely ever to surpass the U.S. as an economic power. China, with its billion-plus population, seems destined to surpass the U.S. in economic clout, and it appears to have designs on rivaling the U.S. as a political and military power. Which means there's no easy way out of the U.S.-China trade impasse...
...husband Todd arrives with great promise - he 'roared' into her life in a Mustang - but then largely disappears. Other things missing: No dissection or prognosis of the wars in Afghanistan or Iraq (though her eldest son is a veteran), no Iran, Israel, China or Russia. No race relations, Hurricane Katrina or Bush policies, either." (Read "The Rogue Returns: On the Road with Sarah Palin...
...heads. Since holding a press conference for his semiautobiographical Nairobi to Shenzhen: A Novel of Love in the East on Nov. 4, Ndesandjo, a half brother of U.S. President Barack Obama, has appeared on television in Hong Kong, and his picture has been splashed on the front pages of China Daily, the South China Morning Post and other regional newspapers...