China and the rest of the world have relied on American consumers to stay afloat. The trade imbalances between the United States and other countries are staggering. ASEAN countries have become key transit hubs for Chinese goods to be sold to the United States, with Vietnam leading the pack. Despite its relatively small GDP, Vietnam’s trade surplus with the United States is nearly half the size of China’s. Meanwhile, the U.S. has helped Canada, Mexico, and the EU achieve more balanced trade. Without the United States, the rest of the world would all run trade deficits with China. The numbers don’t lie—see them for yourself.
