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i hope they change the way the trade figures are calculated since i don't think they properly account for US companies doing business overseas. and stupid US tax law doesn't help either.
in the old days a nation's companies made almost everything in that country and sold some things to other countries. a trade balance was a real figure especially when the currency was backed by gold
in the days of central bank controlled currency we have a US company design stuff in the US, manufacture overseas from components made all over the world and sell worldwide or ship the product to another country for final assembly into yet another product to be sold worldwide.
the PC supply chain goes something like this. chips are made worldwide and shipped to malaysia for assembly. in malaysia they are then put into PC's from components made in other countries and then Dell and HP sell these worldwide. Nvidia designs stuff in california and then sends it to IBM or a Taiwaneese company for manufacture in China and then sells the products all over the world.
how do you calculate the balance of trade in these situations?
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