China's Economic Impact On The United States Has Been Overblown

China's actual impact on US economic growth is widely overblown. Being the second largest economy in the world its easy to see how this could be a misconception.  

The impact of a Chinese economic slowdown will be minimal because we simply do not sell a lot of stuff to China.  

Only 7.6% of U.S. exports go to China.

Total US Exports ($B): $1,620,532

Top Buyers:

1) Canada $312,421

2) European Union: $276,142

3) Mexico $240,249

4) China $123,676

Obviously this doesn’t make much sense, China is 10X the size of Canada yet they buy 3X more stuff than China. Certainly the Chinese could afford more of our products, but it wouldn’t be in their best interest. China would rather compete and give their domestic companies exclusive access to their most-treasured domestic market.

These nationalistic trade policies have effectively quarantined Chinese problems from contagion in America and the EU, whom they also unfairly trade with.

Commodity related business are the exception, they're doomed. Their demise shouldn't be a surprise, they’re cyclical industries... boom & bust... and right now they’re bust. But have no fear, America is creating much more human-capital intensive jobs that will be far more valuable in a future economy. 

 

U.S. Trade Partners