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#3 It is being projected that the U.S. trade deficit with China could hit 270 billion dollars for the entire year of 2010.
#5 The Chinese government has accumulated approximately $2.65 trillion in total foreign exchange reserves. They have drained this wealth from the economies of other nations (such as the United States) and instead of reinvesting all of it they are just sitting on much of it. This is creating tremendous imbalances in the global economy.
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I think at some point, if the U.S. wants to fix their economy they're going to have to address their massive trade imbalance.
China needs to be addressed in that effect a $270 billion dollar deficit is stupid.
I think American's have to figure that they're not going to be able to spend their way out of this pit, there has to be a true austerity movement in the States.
But the U.S. economy won't collapse, if it does the World Economy and trade goes with them.