Monday, November 25, 2019

Chinese Checkers

We got to install microwave ovens
Custom kitchen deliveries
We got to move these refrigerators
We got to move these color TVs
--Dire Straits

Graphical evolution of China's dominant position as a supplier of goods over the past decade. First, 2010:


Now, 2019:


Does this mean that China is getting richer at the expense of others? No. Trade is a two way street. When trade is voluntary, both sides benefit, lest exchange would not occur. Both sides get richer.

If China is creating more value for trading partners than it was ten years ago, then that is good for China...and good for the world.

No comments: