{"id":153882,"date":"2010-01-08T10:13:00","date_gmt":"2010-01-08T15:13:00","guid":{"rendered":"http:\/\/www.businessinsider.com\/world-bank-the-us-trade-deficit-would-explode-higher-if-you-banned-chinese-imports-2010-1"},"modified":"2010-01-08T10:13:00","modified_gmt":"2010-01-08T15:13:00","slug":"world-bank-actually-banning-chinese-imports-would-make-the-u-s-trade-deficit-worse","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/153882","title":{"rendered":"World Bank: Actually, Banning Chinese Imports Would Make The U.S. Trade Deficit WORSE"},"content":{"rendered":"<p><img decoding=\"async\" class=\"float_right\" src=\"http:\/\/static.businessinsider.com\/~~\/f?id=4b474a0b0000000000f58f18&amp;maxX=400\" border=\"0\" alt=\"Flat World Earth\" width=\"400\" \/><\/p>\n<\/p>\n<div style=\"float: left; padding: 15px 15px 15px 0;\">\n<script type=\"text\/javascript\">\/\/ <![CDATA[\ntweetmeme_source = 'moneygame'; tweetmeme_service = 'bit.ly';\n\/\/ ]]><\/script><br \/>\n<script src=\"http:\/\/tweetmeme.com\/i\/scripts\/button.js\" type=\"text\/javascript\"><\/script>\n<\/div>\n<p>If you ban Chinese imports, then Americans will be forced to import products from other non-China sources that are more expensive than China, but still far less expensive than what can be produced within the U.S..<\/p>\n<p>&nbsp;<\/p>\n<p>This could actually <em>increase<\/em> the trade deficit.<\/p>\n<p style=\"padding-left: 30px;\"><a href=\"http:\/\/news.xinhuanet.com\/english\/2010-01\/08\/content_12773003.htm\">Xinhua:<\/a> &#8220;If China will not export those type of labor-intensive products, U.S. will have to import from other middle income or lower income countries,&#8221; he added. &#8220;And very likely, the cost of importing from other countries will be higher.&#8221;<\/p>\n<p style=\"padding-left: 30px;\">Lin said U.S. companies always have a free choice to import from China or other countries, and they currently choose China is because the cost is lower.<\/p>\n<p style=\"padding-left: 30px;\">&#8220;If U.S. has to switch the source of the import from another country, (U.S.) people will have to pay for them no matter how high the price is because that is a definite necessity,&#8221; Lin said,&#8221; that means most likely the trade imbalance in U.S. may increase.&#8221;<\/p>\n<p>Ban imports from all countries and suddenly Americans would be paying substantially higher costs for tons of goods they&#8217;re used to being dirt cheap. Potential American industries of the future would be replaced by sock, shirt, and plastic spoon factories. It would be a historic example of a <em>de-<\/em>developing country, going backwards. Be careful what you wish for. China would love to have Americans making their socks while they create our global media campaigns.<\/p>\n<p><a href=\"http:\/\/www.businessinsider.com\/world-bank-the-us-trade-deficit-would-explode-higher-if-you-banned-chinese-imports-2010-1#comments\">Join the conversation about this story &#187;<\/a><\/p>\n<p><b>See Also:<\/b><\/p>\n<ul>\n<li><a href=\"http:\/\/www.businessinsider.com\/jim-rogers-jim-chanos-couldnt-spell-china-10-years-ago-2010-1\">Jim Rogers: Jim Chanos Couldn&#8217;t Spell &#8216;China&#8217; 10 Years Ago<\/a><\/li>\n<li><a href=\"http:\/\/www.businessinsider.com\/chinese-angered-by-japan-island-grab-2010-1\">China Stunned As Japan Makes Shock Island Announcement In Key Economic Zone<\/a><\/li>\n<li><a href=\"http:\/\/www.businessinsider.com\/us-steel-turns-up-the-heat-in-the-antidumping-war-with-china-2010-1\">The Trade War Just Got Real: U.S. Steel Makes New Anti-Dumping Complaint Against China<\/a><\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/feeds.feedburner.com\/~r\/TheMoneyGame\/~4\/TKI9MdK8SDQ\" height=\"1\" width=\"1\"\/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you ban Chinese imports, then Americans will be forced to import products from other non-China sources that are more expensive than China, but still far less expensive than what can be produced within the U.S.. &nbsp; This could actually increase the trade deficit. Xinhua: &#8220;If China will not export those type of labor-intensive products, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-153882","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/153882","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=153882"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/153882\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=153882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=153882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=153882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}