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Thursday, May 30, 2019

How did the US fudge the US-China trade data?

The US claimed that it exported US$120B goods to China in 2018 but excluded the US$37.5B HK exports.  HK is part of China but the US doesn't include the HK trade data in the US-China trade data.  Furthermore, the US also didn't include the exported US services to China (US$72B including HK) because it wanted to exaggerate the US-China trade deficit.

For your information, I culled and calculated the aforesaid figures from the US census bureau website.

Thus, in total, the US exported US$229.5B worth of goods and services to China in 2018 which was almost double the trade figure that was stated by the US.

The US also will exclude military sales from the trade data and this exclusion will benefit the US since it is a large military weapons exporter.  The US-SG goods trade deficit in 2018 was US$5.9B but the US-SG services trade surplus was US$12.4B.  Therefore, the US had a trade surplus of US$6.5B (nett figure) with SG in 2018.  However, this US trade surplus of US$6.5B was an understatement because SG bought a lot of US military weapons which were excluded from the trade data.

https://ustr.gov/countries-regions/southeast-asia-pacific/singapore

The ungrateful US keeps talking about the US-SG goods trade deficit and puts SG on its currency watchlist without any valid reason.  Who is the real victim here when SG has a total trade deficit of US$6.5B with the US (excludes military sales)?

http://sg-stock.blogspot.com/2019/05/the-us-is-targeting-singapore-malaysia.html


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