The NYT has an excellent article discussing the growing trade deficit with China. The gist is that most stuff is only assembled in China not made there so the large deficit numbers are misleading.
Here is a telling statistic quoted from the article.
"In fact about 60 percent of this countries (China) exports are controlled by foreign companies according to Chinese customs data."
The author goes on to say that the Chinese workers average about .75 an hour. While that is certainly low and should continue to be raised that is much higher than I believed it was.
Anyway it is an extremely interesting article and I encourage everyone to read it. complete story
note: you need a subsription to read the NYT on-line, however it is free
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