In these days of financial frailty, there is a lot of armchair quarterbacking going on about what needs to be done to fix the federal budget. Over at the New York Times, they’ve actually put together an interactive way for you to try your hand at meddling with the nation’s checkbook.
With all the hoopla in the media about all things Chinese—exports, Chinese investors in the United States, the U.S. trade deficit with China, and so on—we thought this myth-exploding article was worth the read. It’s aimed at investors, but relevant to anyone interested in the U.S. economy and how our relationship with China really works. For example, the U.S.’s foreign direct investment (FDI) in China so far this decade is only a third of what we’ve put into Ireland and Germany.