Paul Krugman

@paulkrugman ↗

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Last Checked Sept. 2, 2020

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Sat Aug 10 13:46:01 +0000 2019

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Paul Krugman @paulkrugman

@Brad_Setser Hong Kong: effectively part of the Chinese economy, and the US runs a large surplus - $37 b in exports, only $6 b in imports. Basically a lot of US goods appear to enter China via HK (something similar in Europe, where US exports to Germany go via Belgium/NL) 3/ — PolitiTweet.org

Posted Aug. 10, 2019 Hibernated

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Paul Krugman @paulkrugman

@Brad_Setser So last year US goods imports from China were $539.5 billion, US goods exports $120.3 billion. That's 4.5 to 1. Why so much asymmetry? I think 4 reasons: Hong Kong, macroeconomics, value-added, and oil 2/ — PolitiTweet.org

Posted Aug. 10, 2019 Hibernated

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Paul Krugman @paulkrugman

@Brad_Setser Adding HK reduces the export imbalance to "only" 3.5 to 1. Now macro: the US runs overall trade deficit, with imports 1.5 times exports. China runs overall surplus, with imports only 0.8 exports. On some sort of gravity-ish story, this suggests ratio "should" be around 2 4/ — PolitiTweet.org

Posted Aug. 10, 2019 Hibernated