Rep. Ro Khanna, D-Calif., has a point that the U.S.’ annual trade deficit with China, for goods and services, has risen from less than $80 billion in the 1990s to $400 billion. Unlike Khanna, some experts say that’s not necessarily bad.
whether he would consider serving as the top Democrat on the new GOP-led House Select Committee on China.it would"ensure America is prepared to tackle the economic and security challenges posed by the" Chinese Communist Party.he would be open to taking the position, adding that his concerns transcend national security.
"Our trade deficit with China has gone from about $80 billion a year in the 1990s to $400 billion a year," he said Dec. 12."We've lost steel production, we've lost aluminum production, we've lost paper production, we've lost industry after industry to China. It has hollowed the middle class and working-class in this country, and it has left us less self-reliant.
Khanna’s claim on the figures is essentially on the money, although some experts disagree with what he says the numbers imply.A country’s trade balance is the difference between the value of its imports and exports. A tradeThe U.S. buys much more in goods and services from China than China does from the U.S.But the trade deficit can be measured in goods, or in goods and services, which is the moreFor goods, the highest the U.S.
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