Thursday, September 11, 2014
Blog by:
Farok Contractor
This blog was originally posted on GlobalBusiness.me, where Rutgers Business School professor and Executive Education instructor Farok Contractor shares unbiased perspectives on international business issues. Reposted with permission. Today is a great day to remember that history matters.
Since the year 2000, the US has suffered a horrendous merchandise trade deficit against China, adding up to $2,947 billion over the 14-year period. This means that China has accumulated nearly $3 trillion surplus dollars—much of which they “kindly” reinvested in US assets, notably US Treasury debt. (More on this in a future post.)
