The U.S. likes talking about the dominance of the dollar. But don’t short-change China’s current dominance of manufacturing trade. Trade imbalances need to be taken seriously again.

Data is only to 2023.

Manufacturing, and other physical goods should count as double in GDP. In a way goods trade surpluses/deficits don’t matter because receiver gets something tangible in exchange for money.

US GDP is still inflated by overpaying for healthcare, and “owners equivalent rent” “fabrication” of 11% of its GDP. This component happens to also get boosted by high interest rates.