
Originally Posted by
Ziggurat
Yeah, when the iron ore price was over $200 we still ended up 20 billion ahead in balance of trade with China despite the 20 billion of sales from us China had lopped off. Now the iron ore is under $100, but the 20 billion is still lost no matter where the iron ore price is.
(btw, the EU and US allies are both eatng our lunch without a second thought. They quickly began selling into China the 20 billion in barley, coal, crustaceans, wine etc sales we lost.)