Any discussion of relevant current events today must include China. The People’s Republic of China is becoming an economic superpower in today’s global economy, raising questions about whether or not it will soon rival or even surpass the superpower status the US currently holds. Regardless, China has already become an integral part of the United States’ economy, and today it is nearly impossible to find a household or business that is not inundated with products imported from China. Imports from China have become a significant and massive part of the US economy, revealed by an examination of the dollar amount of China imported goods over the years.
The US Census Bureau’s Foreign Trade Statistics reveal that the dollar amount of imported Chinese products has increased greatly. According to the Census Bureau statistics, in June of 2009, $23,979.10 (United States Dollars-USD) in goods was imported into the United States from China. This has been a steady trend. June 2008 saw $27,930.60 imported, with an annual total of $337,772.60, and June 2007 saw $27,071.00, with an annual total $321,442.90. Comparatively, a decade ago in 1999, the annual total import was just $81,788.20, and two decades ago in 1989 the annual total was $11,989.70.
Clearly, economists, entrepreneurs, businesses, and import companies should be interested in these numbers and this trend. These imports from China have social and political ramifications as well as financial. Imports from other countries can raise ethical consumerism concerns about things like fair labor practices, observation of human rights standards, and the effect of Chinese imports on American jobs. Imports from China are a fascinating and relevant topic to explore, as well as an important and essential component of current events.