China admits $10 BEEELLION tech trade deficit
Despite a growing trade surplus with the rest of the world and a claim to be the global centre of tech manufacturing, China’s technology exports were worth $US10bn less than its imports in 2011. Zhou Liujun, a senior official with the Ministry of Commerce, told a press conference at the Shanghai International Technology Fair on …
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Not just technology
Australian exports to China are worth $77 billion, while our imports from China are worth $43 billion.
Start digging!
Re: Not just technology
Shit! That'll be a hell of a pile uranium!
Re: Not just technology
Start digging? More like keep digging, and keep your fingers crossed that China's infrastructure growth doesn't slow down. Otherwise it's curtains for the commodity markets, given the global capacity that's come on stream in recent years.
Too much blood in the coffee subsystem this morning
OK, call me an idiot, but if everyone has a trade deficit and is pretending to import more than export where is all that sh*t manufactured?
I smell something something fishy... Like the smell of massaged stats early in the morning to have an excuse to continue sabotaging other countries economies by artificially adjusting the yuan exchange rate...
Re: Too much blood in the coffee subsystem this morning
It must be all those Windows licences that they're using - perhaps there should be a chinese version of Linux to bring balance to the trade?
Re: Too much blood in the coffee subsystem this morning
READ "The $10bn+ tech trade deficit is at odds with China’s overall surplus, which widened to $32bn in October, its biggest in 45 months"
Re: «It must be all those Windows licences that they're using -
perhaps there should be a chinese version of Linux to bring balance to the trade?» There is, indeed, at least one Chinese version of Linux, Red Flag Linux. Never tested it, so can't say how good it is....
Henri
Definition of "technology"
What counts as "technology" in these stats?
Re: Definition of "technology"
I suspect they count things like buying a fleet of 60 Airbus A320s, not something they will be doing on an ongoing basis I wouldn't have thought.
Re: Definition of "technology"
"buying a fleet of 60 Airbus A320s, not something they will be doing on an ongoing basis I wouldn't have thought."
Normally they only need to import one example of a tech product....
Having said, that Airbus recognise this, and have established a local "final assembly" plant in Tinjin. Whether that's enough to stop very similar aircraft appearing from different, non-Airbus factories only time will tell.
"China has made important technology advances "
Any specifics?
In this fast paced market
We find it hard to import all your tech, effectively copy it and punt it back out before newer versions are released.
We will work harder with out copy centres and rectify this mistake soon.
Sir
So, let me get this straight.
Pretty much everything I ever see these days is manufactured in China. They then send the items back to the people who paid for them to be built, and then import them?
If this isn't what is happening, then someone is telling porkies somewhere.
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