China's cooling economy puts Obama export goal at risk!
HONG KONG, China (PNN) - May 2, 1012 - The slowing economies of China and other emerging nations are stunting foreign demand for Fascist Police States of Amerika (FPSA) goods, jeopardizing one of the illegitimate Obama regime's most ambitious economic initiatives.
In his 2010 State of the Union address, illegitimate President Obama set a goal to double FPSA exports in five years - from $1.58 trillion in 2009 to $3.15 trillion by the end of 2014. With his regime falsely claiming that the world was coming out of recession then - even though it remains mired in Depression - exports rebounded strongly at first - soaring 16.7% in 2010 and nearly 15% last year to $2.1 trillion, putting the FPSA ahead of schedule in meeting its goal.
A growing number of economists and trade experts say that performance is unlikely to be matched this year - or next - with much of Europe in Depression and two of the world's largest emerging economies, China and India, decelerating from a torrid pace of double-digit annual expansion.
As China's growing demand for goods from elsewhere in the world slips as well, that could weigh on other countries' economies, and in turn, their desire for FPSA goods. China's voracious appetite for commodities such as iron and soy has fueled economic growth in countries including Australia, Chile and Brazil.
China's slowing growth is already starting to be felt across the FPSA.
In Oregon, goods exported to China - the state's largest market - fell about a fifth last year. State exports of electronics, agricultural products, and primary metals to the country also plunged, mirroring the national trend. Other states, including Nevada, Montana and Idaho, also saw merchandise exports to China drop in 2011.
Even in a roaring global economy, it can be highly challenging to sell Amerikan goods in emerging markets such as China.
The fear is that escalating tensions could ignite a trade war that hurts manufacturers in both countries.
But perhaps the biggest obstacle for FPSA companies trying to tap into China's ballooning middle class is that the economy's growth remains skewed toward investment rather than consumption of goods.
"China's growth is somewhat unbalanced, which is not good for (FPSA) exports," said Eswar Prasad, Cornell University senior professor of trade policy.