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02-09-2010, 04:55 PM #1
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10 States About To Get Murdered By Chinese Import Slowdown
The 10 States About To Get Murdered By The Coming Chinese Import Slowdown
Gus Lubin | Feb. 2, 2010, 11:01 AM | 155,165
The biggest stimulus to U.S. jobs in the past ten years wasn't Barack Obama; it was China.
Exports to China grew by 341% from 2000 to 2008 and they're on pace to keep growing.
Unless the China bubble pops.
More and more, analysts are calling for a big import slowdown, the result of massive overcapacity.
The ripple effects in the US will be significant. And Obama's ambitious goal to double exports in the next ten years will be destroyed.
We've picked ten states that are most vulnerable to a Chinese slowdown, based on data from the US-China Business Council. In each state, we named a major employer in the export industry that will hand out pink slips if China bites the big one.
So is your state One of the 10 about to get murdered by the China slowdown
#10 Ohio
2008 exports: $1.8 billion
Exports to China growth, 00-08: 522%
Top exports: Machinery, Computers & Electronics, Chemicals
Potential loser if China craps out: Goodyear (employs 6,000)
Source: US-China Business Council
#9 North Carolina
2008 exports: $1.9 billion
Exports to China growth, 00-08: 455%
Top exports: Computers & Electronics, Chemicals, Waste & Scrap
Potential loser if China craps out: Cisco Systems (employs 4,500)
Source: US-China Business Council
#8 Georgia
2008 exports: $2.0 billion
Exports to China growth, 00-08: 512%
Top exports: Paper Products, Waste & Scraps, Processed Foods
Potential loser if China craps out: Georgia Pacific (employs 4,000)
Source: US-China Business Council
#7 Oregon
2008 exports: $2.5 billion
Exports to China growth, 00-08: 710%
Top exports: Computers & Electronics, Chemicals, Waste & Scrap
Potential loser if China craps out: Hewlett-Packard (employs 5,500)
Source: US-China Business Council
#6 Illinois
2008 exports: $2.5 billion
Exports to China growth, 00-08: 371%
Top exports: Machinery, Waste & Scrap, Computer & Electronics
Potential loser if China craps out: Dynacorp (employs 5,000)
Source: US-China Business Council
#5 New York
2008 exports: $2.8 billion
Exports to China growth, 00-08: 263%
Top exports: Waste & Scrap, Machinery, Computers & Electronics
Potential loser if China craps out: IBM (employs 8,000)
Source: US-China Business Council
#4 Louisiana
2008 exports: $3.5 billion
Exports to China growth, 00-08: 230%
Top exports: Crop Production, Chemicals, Processed Foods
Potential loser if China craps out: Dow Chemical Co. (employs 1,700)
Source: US-China Business Council
#3 Texas
2008 exports: $8.5 billion
Exports to China growth, 00-08: 482%
Top exports: Chemicals, Computers & Electronics, Machinery
Potential loser if China craps out: Dell (employs 21,000)
Source: US-China Business Council
#2 Washington
2008 exports: $9.9 billion
Exports to China growth, 00-08: 422%
Top exports: Transportation Equipment, Crop Production, Computers & Electronics
Potential loser if China craps out: Microsoft (employs 35,000)
Source: US-China Business Council
#1 California
2008 exports: $11.0 billion
Exports to China growth, 00-08: 211%
Top exports: Computers & Electronics, Waste & Scrap, Machinery
Potential loser if China craps out: Oracle (employs 12,000)
Source: US-China Business Council
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05-18-2024, 07:35 AM in General Discussion