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Current Trade Deficit:    
Bubble-Era Imbalances Rebounding Strongly
Alan Tonelson
Wednesday, September 26, 2012
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Japan’s global exports, year-on-year:  -0.7%

Japan’s exports to U.S., year-on-year:  +17%

China’s global exports year-on-year:  +7%

China’s exports to U.S., year-on-year:  +10%

Korea’s global exports, year-on-year:  -1.5%  

Korea’s exports to U.S., year-on-year:  +6.1%


(Source: “U.S. Consumers Proving Old Faithful for Asia Exporters,” by Christopher Anstey and Minh Bui, Bloomberg News, September 21, 2012, http://www.bloomberg.com/news/2012-09-21/u-s-consumers-proving-old-faithful-for-asia-exporters-economy.html)

Alan Tonelson is a Research Fellow at the U.S. Business & Industry Educational Foundation and the author of The Race to the Bottom: Why a Worldwide Worker Surplus and Uncontrolled Free Trade are Sinking American Living Standards (Westview Press).