Understanding Trumps Trade war is very hard through the Lens of Orthodox Monetary measures and the economics priesthood of Wall Street, Frankfurt and the City of London. One needs to quantify the Material Resources and Energy resources used in their transformation into the Goods and necessities of Life ( Liberty and Freedom . It is July 4th).
Anyway if we dispense with the Self Evident truths of American exceptionalism and #MAGA just for a second and look at the CIA World Fact Book for our data we will find quite a different story regarding where the Stuff is done, Useful energy conversion into work, and where the Lead is being Swung, in the counting houses and Bourses of the imperial powers of Usury.
Enough of the flim-flam lets let the facts do their own talking! So Who the fuck is eating all the pies?
And of course who is not.
|COUNTRY COMPARISON :: CURRENT ACCOUNT BALANCECurrent account balance compares a country's net trade in goods and services, plus net earnings, and net transfer payments to and from the rest of the world during the period specified. These figures are calculated on an exchange rate basis.|
|RANK||COUNTRY||CURRENT ACCOUNT BALANCE||DATE OF INFORMATION|
|1||EUROPEAN UNION||$387,100,000,000||2017 EST.|
|5||KOREA, SOUTH||$85,140,000,000||2017 EST.|
|21||HONG KONG||$10,060,000,000||2017 EST.|
3. Results3.1. Energy use associated with production and consumption world economy consumes 5.63E+08 TJ of primary energy resources (BP, 2016; IEA, 2016c). In order to identify which region is responsible for the energy use, three diﬀerent accounting principles as recorded by the indicators of EED (energy resources exploited directly), EEP (energy resources embodied in production) and EEC (energy resources embodied in ﬁnal consumption), respectively, are adopted inFig. 2. According to EED, mainland China, the United States, Russia, Saudi Arabia and India are the 5 largest exploiters, and together they are responsible for 51% of global total energy use. In addition, mainland China is also the largest producer with 1.22E+08 TJ of energy resources embodied in its production, based on the results of EEP.It indicates that 1.22E+08 TJ of energy resources are used globally to sustain the ﬁnal production activities in mainland China. The UnitedStates is the second largest producer, followed by Japan, India and Germany. When it comes to EEC, the United States surpasses mainlandChina as the largest consumer of embodied energy. The world total energy use is the same under diﬀerent accounting principles, however, the three methods diﬀer by which region is allocated the energy use. The diﬀerence between EEP and EEC is small at the regional level,
(PDF) Global primary energy use associated with production, consumption and international trade. Available from: https://www.researchgate.net/publication/320445428_Global_primary_energy_use_associated_with_production_consumption_and_international_trade#pf9 [accessed Jul 05 2018].
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