Skip to: Content
Skip to: Site Navigation
Skip to: Search

July 24, 2008 11:36:22 PM CDT

Learn about Newser Points »

« Back to the grid | Next story »

Asian Inflation Zapping US Pocketbooks

Posted Apr 8, 08 4:12 AM CDT in World,  Business 

(Newser) – Cheap Asian imports have helped keep American inflation down for decades—but those days appear to be over, the New York Times warns. Rapidly rising costs of fuel, food and labor in countries like China, Vietnam, and Taiwan are beginning to be passed on to their export markets, just as the American dollar weakens and recession looms.

Inflation rates in the US still lag behind some skyrocketing levels in the developing countries that provide nearly half of American imports, but that could change as businesses skirt government efforts to control prices. The double-whammy at the US checkout may get even worse as worried central banks move away from the dollar, weakening the greenback even further.

Source New York Times

0 comments | Print E-mail | Digg Seed this on Newsvine Add this link to Del.icio.us StumbleUpon

Related Newser Stories

  • China Exports Inflation to US

    Feb 1, 08 1:35 PM CST
    China Exports Inflation to US After years of pumping out cheap consumer goods, China is driving up American price tags, the New York Times reports. As costs rise domestically, prices down the supply chain rise at the same time that recession threatens in the US. “China has been the world’s factory,” said one economist. “But its heyday is over. We’re going to see higher prices.” More »

  • Yuan-Dollar Battle Continues

    Dec 31, 07 9:50 AM CST
    Yuan-Dollar Battle Continues Despite the yuan's continued appreciation against the dollar this year, at nearly 7%—double its growth in 2006—critics say the currency needs to adjust even higher to balance China's trade surplus, reports the Wall Street Journal. In the US, China’s economic strength has become a standard concern on the presidential campaign trail as candidates decry Bejiing’s currency manipulation. More »

  • China Looks to Buy American

    Dec 10, 07 7:27 PM CST
    China Looks to Buy American China, increasingly being called upon to more rapidly adjust the growth of the yuan against the dollar, is looking to expand its investment in US assets as a way to funnel its powerhouse currency out of the country, Bloomberg reports today. Treasury Secretary Henry Paulson visits Beijing Wednesday for a third round of strategic trade talks, and will push yuan appreciation as a consumer price control measure. More »

  • Trade Gap Dips to Lowest Level in 3 Years

    Sep 11, 07 9:25 AM CDT
    Trade Gap Dips to Lowest Level in 3 Years The US trade gap—the difference in total value between imports and exports—dropped to a 3-year low in July as exports jumped on a weak dollar and growing overseas demand. The figure fell 0.3% to $59.2 billion, roughly on par with the estimate economists surveyed by Bloomberg foresaw. Said one analyst, “the broad outlook for trade looks quite positive.” More »

Chinese laborers make shoes for export. Inflation is rising sharply in China and the price hikes there are being passed on to US consumers.   (Getty Images)
Visitors look at rows of containers at the Yangshan deep water port off the coast of Shanghai, China, in this April 6, 2006 file photo.   (AP Photo/Greg Baker, File)
A worker high atop a stack of cargo containers prepares a ship operated by Taiwan-based Yang Ming Marine Transport Corp. for unloading Tuesday, April 10, 2007 at the Port of Tacoma in Tacoma, Wash.   (AP Photo/Ted S. Warren)
« Prev« Prev | Next »Next » Slideshow
Our editors also recommend:

Threads (1 of 2)

Tags

China  • inflation  • US dollar  • Vietnam  • Asia  • exports  • US imports


Loading...

Loading...

Today's Most Popular


Other Business Stories

What is Newser?

2008 Codie Finalist

Newser gives you more news in less time. We search for the best and most important stories all over the web, read them for you, and deliver concise and sharp summaries—along with links to the full text. Newser provides a way to stay on top of an ever-expanding horizon of news and opinion—politics, sports, business, trends, technology, personalities, crimes, and controversies. Newser keeps you not just better informed, but, with our signature graphic interface and smart condensed format, more enjoyably informed.

Learn more »