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Biden proves yet again he's an idiot, this time on China
[American Thinker] Recently, Democratic presidential contender Joe Biden said, "China is going to eat our lunch? Come on, man...they can't even figure out how to deal with the fact that they have this great division between the China Sea and the mountains in the east, I mean in the west." Biden continued, "They can't figure out how they're going to deal with the corruption that exists within the system. I mean, you know, they're not bad folks, folks. But guess what: they're not. They're not competition for us."He might want to look for advice to former British prime minister Winston Churchill, who said, "You must look at the facts, because they look at you." Here are the facts: Over the past decade, annual US exports to China have risen from $69.5 billion to $120 billion. Over the same period, Chinese exports to American have grown from $296 billion to $539 billion. Over the decade, the Chinese have sold us $4.4 trillion in goods and services, while we have sold China $1.1 trillion. In 2018, China sold us $540 billion, while we sold the Chinese $120 billion, for a net deficit of $419 billion. The net result has been a transfer of $3.3 trillion of wealth from America to China. What are they selling us, and what are we selling them? According to the U.S. Trade Representative Office: Posted by: Besoeker 2019-05-30 |
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