Saturday, September 15, 2012

Made in China

We seem to have a tendency to think a lot of the "stuff" we buy is made in China. 

And we are wrong.

How much is actually made in China? About 3%.

From Think Progress... 
A very interesting analysis by Galina Hale and Bart Hobijn of the San Francisco Fed concludes that very little of American personal consumption spending actually ends up in China. When Americans go buy stuff, they’re overwhelmingly buying things that are made in America.  
In part, this reflects the fact that 67 percent of spending is on services rather than goods, and services are 96 percent made in the USA. But even durable goods, which only account for about 10 percent of total spending, are mostly made in America — 66.6 percent to 12 percent for China with the rest coming from the rest of the world. In fact the only category of spending in which Made in the USA doesn’t account for the majority is clothing and shoes.

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