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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

In its recent report, The Conference Board’s Global Economic Outlook 2015, updated November 2014 (http://www.conference-board.org/data/ globaloutlook.cfm), projects China’s growth between 2015 and 2019 to be about 5.5%. International Business Times (http//www.ibtimes.com/us-exports-china-have rown-294-over-past-decade- 1338693) reports that China is the United States’ third largest export market, with exports to China growing Chapter 25, Problem 17CTQ, In its recent report, The Conference Board’s Global Economic Outlook 2015, updated November 2014 over the last ten years. Explain what impact China has on the U.S. economy.

To determine

The impact China has on the US Economy, with increase in exports and projected growth in Chinese economy.

Explanation

According to China Business Council, the U.S. released a report that says China bought nearly

  $109 billion worth of goods in the year 2014 from the U.S. and didn’t include region like Hong Kong, it imported more than $35 billion worth of goods in the same period from the U.S. This led to a change in the ranks; China has become the third-largest export market of the U.S., with its exports growing at 111% from 2003 to 2012 . Comparing the statistics, U.S. exports have grown only 5.5% to the rest of the world in the same period

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