Soybeans, Cars, Airplanes, Medicine; That's What The Chinese Want From America, And Trash
Beijing, China -
As China's middle class booms, the nation has doubled its imports of American products, not the kind that are pirated, but items like soybeans, cars, airplanes and medicine.
Exports to China have doubled since 2008 but there has been no change in Chinese government policy. Economist are saying it is the result of China becoming wealthier, now the worlds second largest economy after it overtook Japan.
The boom in U.S. exports is not helping erase America’s trade deficit with China, which was $295 billion in 2011, $22 billion higher than the year before. But American exports to China have increased by 468 percent since 2001, when the country joined the World Trade Organization, and are up by nearly 50 percent since 2008.
Even some American trash is being exported to China, where they are able to salvage valuables like copper, aluminum and other minerals.
It was soybeans, cars, airplanes and medicine that saw the biggest jump as Chinese began demanding meat, which soybeans are used in livestock feed, and as they earn more, they giving up their bicycles and turning to automobiles, with Chevy being popular along with Cadillacs.
As large as China is, air travel has become important, both domestically and for foreigners doing more and more business in China. Lastly, as China becomes more connected to the global economy, so too are they giving up old medicine remedies and embracing modern medicine, but so far no HMO insurance companies have relocated to China yet.