China = 80% of U.S. Goods Deficit (Non-oil)

Alliance for American Manufacturing (Capozzola) - The U.S. goods trade deficit with China reached $226 billion in 2009. According to Robert Scott at the Economic Policy Institute (EPI), China’s share of the U.S. non-oil goods trade deficit jumped from 68.6% in 2008 to a staggering 80.2% in 2010. In fact, China’s share of the non-oil goods trade deficit has more than doubled since 2005.

As the Associated Press reported yesterday, China is now the world’s largest exporter, a sign that its ongoing mercantilism has worked. Continuing manipulation of the yuan, along with dumping and rampant subsidies, have allowed Beijing to surge past every other major industrial country and flood world markets with manufactured goods.