MercoPress. South Atlantic News Agency
“Trade is the Biggest Wealth Creator,” Says Prime Minister Cameron Welcoming Doha Report
British Prime Minister David Cameron has welcomed a new report, which claims that for the Doha agreement to be successful, negotiations should be concluded in 2011. Read full article
Comments
Disclaimer & comment rulesHard to say what the British government understands by “TRADE”... well, it's not that hard after all... taking what we need and what we want without even asking permission...
Jan 28th, 2011 - 09:52 pm - Link - Report abuse 0http://www.independent.co.uk/news/uk/home-news/on-display-here-wanted-by-india-1988002.html
xbarilox . TRADE”... well, it's not that hard after all... taking what we need and what we want without even asking permission...
Jan 30th, 2011 - 12:40 am - Link - Report abuse 0we call this illegal what then do you call it ?
Mr. Camerom sounds pretty desperate to archive something before the end of 2011 when all SP end.
Jan 30th, 2011 - 12:29 pm - Link - Report abuse 0To cut subsidies for agriculture in EU will have to kill the French first. Haha And then convince US.
Um... Not an easy task, especially with Obama and Mr Sarkozy.
And if he archives that what clear benefit Brazil and Argentina as bigger food exporters what has UKI to export to us?
Photos of Elizabeth II? Kebabs made in UK? Tourist package for the beach in Bristol?
Anyone had ever seen any stuff made in UK and exported to Argentina in the last 15 years?
The Financial times perhaps?
Why always someone has a claim for usurpation and loot against the Brits? I just wonder...
Nico. we don't particularly consider ourselves an export nation. But just to set you straight.. The UK still exports more goods than Argentina's entire GDP every year.
Jan 30th, 2011 - 05:35 pm - Link - Report abuse 0Infact. We export more to the USA every year than all of Argentina's exports.
What do we export? A lot actually, we're still the 10'th largest trading nation.
The point is, at least others buy our goods ?
Jan 30th, 2011 - 09:37 pm - Link - Report abuse 0@ Zethee
Jan 31st, 2011 - 04:30 am - Link - Report abuse 0Can you tell me what do you export?
Because according with US department of commerce figures UK doesn’t count in the list of relevant import partner China 19.3%, Canada 14.24%, Mexico 11.12%, Japan 6.14%, Germany 4.53% I don’t see any UK there and you?
But US export to UK 4.33% of its export output.
Anyway UKI exports USD400bn (Maybe SIVs or loans ???) and imports USD550bn.
What gives a trade deficit against UK of a red number like USD 150bn.
Wow that is a lot of deficit for such little nation in 10 years would be USD 1.5 Trillions of more debt to finance such deficit.
So you need to export 169bn more to have de surplus of little Argentina lets say USD 569bn of export. Just to have the same gain of poor little Argentina.
When do you think UK will archive that in 2030 perhaps?
I don’t know for you, but for me seem UK is a trade loser.
What do you think?
Always ready to educate a DIMwit
Jan 31st, 2011 - 07:11 am - Link - Report abuse 0http://www.guardian.co.uk/news/datablog/2010/feb/24/uk-trade-exports-imports
... when the 2010 figures come in I'll pass them on. Hope this helps your education :-)
“Because according with US department of commerce figures UK doesn’t count in the list of relevant import partner China 19.3%, Canada 14.24%, Mexico 11.12%, Japan 6.14%, Germany 4.53% I don’t see any UK there and you?
Jan 31st, 2011 - 11:16 am - Link - Report abuse 0But US export to UK 4.33% of its export output. ”
.....What..? I've read my post again and i can not honestly see in any way, shape or form how you would get “We export more to the USA than any other country”
From:
“We export more to the USA every year than all of Argentina's exports”
I never said that. Are you stupid?
“Can you tell me what do you export?”
Yes, if you insist. Major UK exports include: Manufactured goods, fuels, chemicals, food, beverages, everything under the IT and online sector, military equipment and training, aviation, finance, films/movies,music,TV shows, authors/books and pharmaceutical/medical.
It's not hard information to find out.
Also, incorrect about trade deficit. We recently hit a record high trade deficit of 8.7 billion; This was the biggest deficit since monthly records began in January 1980.
Again, we don't particularly consider ourselves an export nation. The point in me posting here was to show you just how irrelevant your exports are to larger nations.
@ Zethee
Jan 31st, 2011 - 01:49 pm - Link - Report abuse 0No I’m not stupid but seem someone in the neighborhood are... Guess who?
The 8.7 bn is just for nov (1 month) “The deficit on trade in goods increased to £8.7 billion in November, compared with a deficit of £8.6 billion in October (originally published as a deficit of £8.5 billion). Exports rose by £0.9 billion and imports rose by £1.1 billion.” http://www.statistics.gov.uk/cci/nugget.asp?id=199
Total deficit for 2010 of UK is 150bn dollars
You said “We export more to the USA every year than all of Argentina's exports”???
And I said that your exports to US are irrelevant. And that US exports to UK are the 4.33% of their exports. What it’s absolutely true.
And Argentina exports 70bn and imports 53bn having a surplus of 17bn.
On the other hand your annual deficit according with govt. figures and not junk press articles give a trade deficit of 150bn.
Easy mate basic math you export 400bn and you have imported 550bn in 2010 what makes a deficit or 150bn (550-400bn=150bn).
So you have a problem in your trade balance what harm you balance of payments and UKI has to borrow to pay for the deficit or uses reserves or sell the jewelry of the queen or sell something to meet the obligation..
I also said that Argentina has a surplus, that to be met by UKI has to export 169bn more let’s say 569bn.
What part of “you have a huge deficit “ you cannot understand?
And going like this (as you have been doing for decades) will increase in 1.5 trillions your external debt by the end of 2011 if you don’t export more of import less.
Your total debt would be let me see 2010 11 trillions plus 1.5 of deficit in the commercial balance 12.5 US trillions.
Ha! You are broke poor a living borrowing, have you noted that?
When your lenders, Arabs, Chinese, etc. stop buying your debt UK collapses, that simple.
: )
Nico, For your own sake. Take a course in economics or even just read a bit more. You show less than basic understanding of anything economic in every post.
Jan 31st, 2011 - 03:26 pm - Link - Report abuse 0Again you fail to grasp the most basic of thoughts. My post never once focused on how important or the percentage of trade to the USA. Infact my first post had nothing to do with the USA other to demonstrate that Argentina does not trade a lot compared to other nations.
As for the rest of your post; It's pointless discussing these things with you because you have the unfortunate position of being either very uninformed or incredibly stupid or even possibly a mixture of the two, while at the same time you believe your opinion to be gospel truth.
My point in posting here was to just show you how irrelevant yourt country is when it comes to trade in the world, not to discuss the finer points of economics with someone who has little to no understanding of the concept.
Zethee, the UK is being flushed down the toilet, it doesn't matter what you say, it won't change a thing. Stop counting on the USA, those people will always do what's best for them.
Jan 31st, 2011 - 04:32 pm - Link - Report abuse 0Your point is that you have no point. We can all agree that the UK was once a powerful nation, but that's the past. You may be loathe to accept it, but they aren't anymore. you talk about Britain being influential, the truth is that, as in the case of the US, the UK belongs to many countries and one day those people will go for what is theirs. You can brag about the UK and its power, it doesn't matter. Keep dreaming about the past Zethee, if it makes you feel better :)
You can always count on xbox to say something totally irrelevant and in the process make himself sound like an idiot.
Jan 31st, 2011 - 06:37 pm - Link - Report abuse 0@ 12 You still have no point, only blah blah blah :)
Jan 31st, 2011 - 11:31 pm - Link - Report abuse 0@Zethee
Feb 01st, 2011 - 07:18 am - Link - Report abuse 0Even Mouhamed from the kebab shop is smarter than you if you will ve him you would be broke.
For a country like UK been in Europe exporting less than Netherlands U$s 452bn I wouldn’t be flagging (if I would be you) the relevance of UK, because simple has none in the world.
China +199bn surplus
Exports $1.506 trillion
Imports $1.307 trillion
Germany +217bn surplus
Exports $1.337 trillion
Imports $1.120 trillion
USA -663bn deficit
Exports $1.27 trillion
Imports $1.903 trillion
Japan +99bn Surplus
Exports $735.8 billion
Imports $636.8 billion
France -69bn deficit
Exports $508.7 billion
Imports $577.7 billion
Korea +48bn Surplus
Exports $466.3 billion
Imports $417.9 billion
Italy -1.3bn deficit
Exports $458.4 billion
Imports $459.7 billion
Canada 0.4bn Surplus
Exports $406.8 billion
Imports $406.4 billion
UK -147bn deficit
Exports $401.8 billion
Imports $549.2 billion
Russia +139.4bn surplus
Exports $376.7 billion
Imports $237.3 billion
Mexico -3bn deficit
Exports $303 billion
Imports $306 billion
Belgium -2.5bn deficit
Exports $279.2 billion
Imports $281.7 billion
Saudi Arabia +136,13 surplus
Exports $235.3 billion
Imports $99.17 billion
Australia +10.3bn Surplus
Exports $210.7 billion
Imports $200.4 billion
India -126bn deficit
Exports $201 billion
Imports $327 billion
Brazil +12bn surplus
Exports $199.7 billion
Imports $187.7 billion
Argentina +17.22bn surplus
Exports $70.02 billion
Imports $52.80 billion
Top trade Winners of the list
Germany +217bn
China +199bn
Russia +139.4bn
SArabia +136,13
Japan +99bn
Korea +48bn
Argentina +17.22bn
Brazil +12bn
Australia +10.3bn
Canada +0.4bn
Top Trade Losers of the list
USA -663bn
UK -147bn ********Second bigger loser in the world
India -126bn
France -69bn
Mexico -3bn
Belgium -2.5bn
Italy -1.3bn
Seems you have a business loosing money how long do you thing will stay on business?
Nico, sigh..
Feb 03rd, 2011 - 10:38 pm - Link - Report abuse 0You're getting trade deficit and debt mixed together here where it shouldn't be.
You also seem to the under the impression that a trade deficit is a very bad thing when in a globalized world a small trade deficit is not a bad thing depending on opinion.
For example the USA has had a trade deficit since just after world war two and has been the worlds top economy since then.
Infact, in a lot of cases growing trade deficits occur duringg economic booms while they shrink in times of economic trouble.
As an economy and peoples incomes grow, business and consumer demand for all goods, including imports, rises. This is one of the reasons the US usually has a larger increase in it's deficit during a economic boom.
Anyway, i won't get more into it im sure you'll just link some random statistics and youtube clips and sprout some other nonsense, i believe economics are way above your level of intelligence, no offence.
@Zethee
Feb 04th, 2011 - 04:57 am - Link - Report abuse 0No offense at all.
But US external debt is 14 trillions dollars with exports for $1.27 trillion and UK has an external debt of more than 11 Trillions and only exports 400bn with a deficit of -150bn and only has a GDP of 2 trillions.
USA is in a big financial mess at the moment figure out where is UK with an economy with the size of California.
So how are you going to pay your astronomical debt with magic?
No you will have to reduce deficits and living standards and may be devaluate your currency to become competitive to favour exports to gain foreigner currencies to pay the cost of serving your debt. And when I say serving I mean interest because only the govt is already paying USD 109bn at year and. And you also have to count the private debt what is part of your external debt.
Any change up in interest rates will make a big financial disaster for the govt. and private companies.
Bankruptcy, less economy activity and less taxes to collect for you govt. what would make your govt more dependent of loans to keep things running.
That was the reason why all emerging economies become exporters and always try to keep trade balance surplus.
You were for decades living beyond your means and now bankers are knocking at your door.
Anybody there? I have some unpaid bill for you...
You're obsessed with our debt and again you confuse it with trade deficit.
Feb 04th, 2011 - 08:17 am - Link - Report abuse 0It's really pointless getting into a discussion with you about this because quite frankly your hate for others blinds you to common sence most of the time.
You might indeed think that this debt will cripple the UK or even the US when infact this debt, when looked at history is not the worst debt we've had.
We've had very high levels of debt as far back as the 1600's in times of economic stress. Our highest level of debt was during the 1800's and was much, much higher than it currently is, over four times what it is now. Then again in ww1+ww2 we gained massive debts.
It will take a while for the UK to recover, yes. But as for all your gloom and doom about the UK crumbling and dying. It's just not logical Nico, and if you do have some sanity in that head of yours you also know this to be true.
@ Zethee
Feb 04th, 2011 - 12:54 pm - Link - Report abuse 0”Trade is the Biggest Wealth Creator” if you don't have deficit idiot
I’m not confusing anything, if you import more than what you export you have to have a source of capital to finance the imbalance.
That means debt especially in a nation which it’s economy is driven by consumption like UK and US.
I see some Economists moron arguing well the deficit of UK is like and even less than others countries like Japan, Germany, Italy, etc.
But this is the public debt not the external when you put both together the total debt of UK is close to 6 times its GDP.
But while Japan, Germany, Italy, etc are high savers UK and US are high spenders.
So they (US & UK) have to borrow abroad to finance the fiesta.
So how long a country can goes like this? Well for someone like Iceland not anymore, Greece you know what happen, for Ireland Bailout, Spain well I don’t know yet but will be soon. And UK will be the next after Spain.
So tremendous cuts are necessary, low salaries are required, domestic high interest rate to drive down consumption what would be more recession and a flexible currency policy to boost exports to start to compete in the world and gain your living to break your continuing borrowing and dependency of foreigner capital to survive.
That won’t be easy to archive in UK because social problem will arise, protest, more poverty, riots, etc. And the fat cats (bankers)
If this doesn’t work or the measures are taken too late then start to think in IMF and default what are your options.
I think in 30 years you may be healthy again like after the WWII, but what a minute in the 70 Britain was not a good place to live you still were in a really bad shape. So think in 50 just in case.
Any time you buy something made somewhere a foreigner is getting richer and you more poor if there is not a balance.
Learn from Germany they have a sound economy and are in my list of top winners in exports.
Arrivederci Ragazzo la vita e' nostra dopo di pagare il debito : )
“Any time you buy something made somewhere a foreigner is getting richer and you more poor if there is not a balance.”
Feb 04th, 2011 - 10:01 pm - Link - Report abuse 0^ Classic, Brilliant. Lmao.
“i believe economics are way above your level of intelligence, no offence.”
I stand by this. Zero-Sum economics, Nico.
It's very frustrating trying explain things like this to you when it's not even very complicated and frankly, easily available information on the internet. So i will leave you with this. I suggest looking it up for yourself in some detail before you try to explain economics to people while you clearly don't grasp many concepts of the subject.
@Zethee
Feb 05th, 2011 - 04:10 am - Link - Report abuse 0“I stand by this. Zero-Sum economics, Nico.”
Is what I say above if you read it carefully and what Sir Thomas Smith said in
Discourse of the Common Weal of this Realm
of England in 1549 “We must always take heed that we buy no more from strangers than we sell them, for so should we impoverish ourselves and enrich them.” 0 sum
What was the base of your former empire and that you are missing so much now today.
Britain became Great (If you allow me to play with words) when her dominated all merchant route and trade all over the world. When buying commodities cheap and making goods in Manchester, Scotland, etc and selling back with a big margin generating huge trade surplus.
http://news.bbc.co.uk/2/hi/business/8558908.stm Expecting to get out of the debt by boosting exports and that was when your trade deficit was just 97.2 bn dollars. To the end of 2010 UK trade deficit reached 150bn dollars.
So how are you going to finance the cost of your debt service and keep that trade deficit?
Yeah with more borrowing and borrowing and printing money like rabbits having babies.
Investors and lenders keep an eye on those macro economic figures if they desire to rise interest rates (because you are too risky) or stop lending to you what happen?
Yes, Iceland style collapse your pound will become worthless imports will skyrocket and GB is not a rich country to sustain itself because relay on imports even food from foreigner countries.
Well you would have to convince people like this about your sound knowledge of economy. I don’t think would be an easy task mate.
http://news.bbc.co.uk/2/hi/business/8558908.stm
http://news.bbc.co.uk/2/hi/business/8558908.stm
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