Is America Swapping Garbage for Computers with China?

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Clyde Prestowitz tells us a thing or two about what's wrong with America and why record numbers of Americans are telling the polsters that they're fed up.  His argument stems from how we trade, for example, with China.

Our major import is nearly $50 billion of computer equipment while our major export is about $8 billion of waste paper and scrap metal. Yes, that's right. We're swapping garbage for computers with China -- and lots of other countries as well. 

The Huffington Post is doing a fresh take on a three-year old article (must be a new book coming out by Prestowitz).

Read the entire article:  America Needs a New Globalization Game

Biggest Trading Nation in the World?

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According to Bloomberg, China surpassed the U.S. to become the world’s biggest trading nation last year as measured by the sum of exports and imports.  China is considered the world's biggest exporter (2009) and the U.S. is the world's biggest importer.

U.S. exports and imports last year totaled $3.82 trillion, the U.S. Commerce Department said last week. China’s customs administration reported last month that the country’s total trade in 2012 amounted to $3.87 trillion. China had a $231.1 billion annual trade surplus while the U.S. had a trade deficit of $727.9 billion.

Read the entire article:  China Passes U.S. to Become World's Biggest Trading Nation

The United States of America: The 57th Presidential Inauguration

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President Obama sworn in to second term serving as President of the United States (1/21/13).

Learn more here.