Everything’s Made in China? Not Quite.

By:  Bob Adelmann
08/15/2011
       
Everything’s Made in China? Not Quite.

An analysis just released by the Federal Reserve Bank of San Francisco concludes that most of what Americans spend on consumer goods, electronics, clothing, sneakers and the like, stays in America. Surprisingly little comes from China after all. Say the authors:

Goods and services from China accounted for only 2.7% of U.S. personal consumption expenditures (PCE) in 2010…Chinese imports make up only a small share of total U.S. consumer spending…

Athough globalization is widely recognized these days, the U.S. economy actually remains relatively closed. The vast majority of goods and services sold in the United States is produced here. In 2010, imports were about 16% of U.S. GDP. Imports from China amounted to 2.5% of GDP.

An analysis just released by the Federal Reserve Bank of San Francisco concludes that most of what Americans spend on consumer goods, electronics, clothing, sneakers and the like, stays in America. Surprisingly little comes from China after all. Say the authors:

Goods and services from China accounted for only 2.7% of U.S. personal consumption expenditures (PCE) in 2010…Chinese imports make up only a small share of total U.S. consumer spending…

Athough globalization is widely recognized these days, the U.S. economy actually remains relatively closed. The vast majority of goods and services sold in the United States is produced here. In 2010, imports were about 16% of U.S. GDP. Imports from China amounted to 2.5% of GDP.

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