US v EU v China - Imports & Exports

The chart shows that tired old socialist Europe is a more successful exporter than either China or the USA. In fact, just one country in the EU [Germany] exports more than China or the USA. You can also see from the chart that whilst the imports and exports of the EU and China are more or less in balance, the USA is living beyond its means and running a massive trade deficit. Normally such a massive deficit would mean the collapse of the dollar. To a certain extent this has happened but not by enough to correct the situation. The reason why the dollar has not fallen through the floor is that the USA is living on loans from Japan and China.

The chart is based on statistics from the CIA Factbook.

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