Archive for 2024

DECOUPLING: After 17 Years, China Set To Lose ‘Top Spot’ As No. 1 Exporter To US; China-US Trade War Benefits Others.

China’s share of total US imports has plummeted to 13.9%, marking the lowest percentage since 2004. This decline is substantial compared to its peak of over 21% around 2017. US exports to China have shown minimal growth throughout the year.

Stepping into the void left by China, Mexico is positioned to become the leading exporter to the US for the entire year, a status it hasn’t held since 2000. US imports from Mexico are set to record a high in 2023, constituting over 15% of the total for the first 11 months of the year.

The European Union has also experienced a surge in exports to the US, reaching an all-time high during the same period.

This shift in US trade patterns is particularly evident in the diversification of sources for critical products, such as consumer electronics, which have traditionally relied heavily on China.

Notably, smartphone imports from China have seen a 10% decrease, while imports from India have surged fivefold. Similarly, laptop imports from China dropped by approximately 30%, but those from Vietnam quadrupled.

Chairman Xi has no one to blame but his own belligerence.

ELECTIONS ARE SUPPOSED TO HAVE CONSEQUENCES, FELLAS: House Republicans Cave to Hunter Biden. “Hunter Biden had violated two congressional subpoenas. There’s no ambiguity in what he did. The House had all the justification in the world to find him in contempt and put the Biden administration in the position of choosing between prosecuting Hunter or not — neither of which was a great option for Biden in the middle of a presidential campaign.”

AP CALLS IOWA FOR TRUMP.

UPDATE:

More: Roger Kimball: Trump trounces everyone in Iowa. “It’s game over for Ron DeSantis. Whether he suspends his campaign tonight or waits a few weeks doesn’t really matter. Time’s up for the governor of Florida. Nikki Haley will doubtless trudge on to New Hampshire, where she will also lose, and perhaps even to South Carolina, her home state, where Trump will win by a huge margin. It wasn’t much of a horse race, but it was, for those with eyes to see, a clarifying moment.”

UPDATE (10:28 pm EST): Why Was a Winner Projected in Iowa With <1% Votes Counted?

UPDATE (11:23 pm): Vivek Ramaswamy Said To Leave 2024 Race and Will Endorse Trump.