A lot of fearmongering in the media has Americans concerned that all our goods are imported from China. But is that really true? GOOD’s new business editor, Tim Fernholz, calls bullshit:
While Chinese goods seem ubiquitous, especially given America’s economic woes, the reality is that imports from the country are a relatively small part of the economy: A total of 88.5 percent of consumer spending in the United States is on items made here, with only 2.7 percent spent on “Made in China” goods, according to new research from the Federal Reserve Bank of San Francisco:
Front Porch Reflections 