Blame Wal-Mart, don't blame China (if you really want to blame someone)

One tenth of China’s exports to the United States are created by procurements by Wal-Mart in China. If Wal-Mart were an independent nation, it would become one of the top ten importer countries of Chinese products. If Wal-Mart were a nation, it would become one of the largest exporters to American market, and should be responsible for America’s huge trade deficits (if someone believes that creators of trade deficits must be blamed at all).

Stephen King (managing director of economics at HSBC) has some insights about this at The Independent newspaper:

“Sixty per cent of China's exports and imports are today accounted for by so-called foreign-invested companies. Ironically, then, America's unease about China is, indirectly, the result of actions by American companies in China. Should the protectionist faction in Congress ever manage to impose tariffs on China, they would be very much shooting themselves in the foot: tariffs on Chinese imports into the US would be tariffs on the profits and economic success of American companies operating in China.”

I wonder whether  some politicians will try to convince us that WalMart is owned and subsidized by Chinese government.

I also recommend you to read this book: The United States of Wal-Mart by John Dicker