Sunday, April 1, 2012
The Great Work of Galina Hale and Bart Hobijn/China Complex
In this information age, it is difficult to find great work from researchers. In 2011, two senior economists in the Economic Research Department of the Federal Reserve Bank of San Francisco, Galina Hale and Bart Hobijn, wrote an wonderful article (title: The U.S. Content of “Made in China”) which published in FRBSF Economic Letter on August 8 (please access the following address of the article: http://www.frbsf.org/publications/economics/letter/2011/el2011-25.html). According to their analysis only 2.7% of
personal consumption expenditure in 2010 accounted the Chinese goods and services. The rest went to U.S. U.S. businesses and workers transporting, selling, and marketing goods carrying the “Made in ” label. A total of 88.5% of China U.S. consumer spending is on the items made in the (FRBSF Economic Letter). This analysis will make many Americans to wonder or rethink about “Made in U.S. ” label. China
Source: frbsf.org (access date: 1 April 2012).