The share of imported merchandise coming from China was 14.6% on average over that period, the data published Wednesday showed. That’s down from a peak of 21.8% in the 12 months through March 2018, just before former US President Donald Trump ramped up a trade war with the Asian country.
What a fabulous result for Americans. Global and local supply chains ripped out of China at spectacular speed. Freeing it to pursue its liberal imperium unencumbered by any dependence upon the vicious tyranny.
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David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
