Paul Krugman proved wrong on China's trade
I have a new article at China,org.cn showing, on the basis of the newly published data, that Paul Krugman was entirely wrong on his factual claims regarding China’s balance of payments surplus for 2010, and that the projections made on this blog at the beginning of last year were correct against his claims. It notes: ‘Paul Krugman’s claim of $450 billion [for China's balance of payment surplus] was therefore entirely inaccurate… he proposed to launch a trade war between the world’s two largest economies on the basis of a factual projection that was quite false,’
Those who want a more detailed analysis of Paul Krugman’s errors than was possible in a short article,and an examination of the actual trends in China’s trade, are referred to ‘Paul Kruman’s economic illogicalities on China‘ and the analysis of the declining trend of China’s trade surplus carried on this blog earlier this year.
John Ross is currently Visiting Professor at Antai College of Economics and Management,Shanghai Jiao Tong University, where he leads research on globalisation and on China and the international financial crisis.
Check out his blog: http://ablog.typepad.com/keytrendsinglobalisation/ , or follow him on twitter @JohnRoss43
Read more at Key Trends in Globalisation
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