Made In China Is Less Than 3%&Nbsp In The US, And 55% In The US Pocket.

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The Federal Reserve Bank of San Francisco released a survey yesterday that in the United States, the share of "made in China" consumed by Americans is less than 3%.

The "made in China" share of American consumption is not as high as it is generally supposed to be.

The report collects data from the US Department of Commerce, the Bureau of labor statistics and the Census Bureau. It turns out that 88.5% of the goods and services consumed by American households are made in the United States, and the other 11.5%.

Galina Hill, a senior economist at the Federal Reserve Bank of San Francisco, and Bart Hobijn, a research consultant, concluded that most of the consumer goods in the United States are health care and housing. These two categories of products are made in the United States.

In the durable goods category, 2/3 of the large objects, including cars and furniture, are made in the United States, and only 10% in China.

In food, clothing, natural gas and so on, 76% is made in the United States, and 6% is made in China.

"Made in China" made 55% of its income into the US pocket.

According to the calculation of the Federal Reserve Bank of San Francisco, even 36% of the income of imported products will enter the pockets of American businesses and workers, and the proportion of "made in China" is even higher, reaching 55%. That is to say, the "made in China" product sold for 1 dollars will have 55 cents in American pocket.

Considering this factor, pure made in China accounts for only 1.9%.

The good news is that the Chinese threat in the US political debate has been exaggerated, the report said.

The share of China's exports in the US's share of consumption has increased rapidly, but it still accounts for only a small part of the total.

American businesses and workers have also benefited in this process.

The idea of creating more domestic markets for American manufacturers through the appreciation of the renminbi is even more discreditable.

If most of the profits of imported "made in China" come to the pockets of American businesses and workers, it will be difficult to change the competition pattern.

Misunderstanding

Three reasons for US media analysis

The national public radio said this morning that if these data are true, why do we feel that everything we use is made in China?

One reason is that Americans consume a lot of cheap things from China. People only pay attention to this amount, but neglect that these "made in China" account for a small proportion of the total consumption.

The report shows that clothing and footwear are the only "made in China" category that exceeds the "made in the United States" category among all kinds of consumer goods.

But clothes / Footwear only account for the whole.

The two reason is that Americans are constantly hearing about the huge trade deficit between the United States and China. For example, in May, the United States exported $7 billion to China and imports 29 billion dollars from China, which is a big deficit.

But compared with the overall economy, 29 billion dollars is actually a small figure.

The monthly economic output of the United States has exceeded 10 trillion dollars.

The third reason is that the manufacturing jobs in the United States have been decreasing in recent years, which makes many people think that the manufacturing industry in the United States is disappearing.

In fact, the manufacturing industry in the United States has been growing for a long time, but it has only been pferred to high-tech sectors without the need for so many assembly line workers.