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| Version 1 | Version 2 |
|---|---|
| US stimulus money all going to China – Max Keiser | US stimulus money all going to China – Max Keiser |
| (about 1 month later) | |
| With a new round of $1,400 stimulus checks pouring in and the economy continuing to recover, the US trade deficit surged to a record $74.4 billion in March, the Commerce Department reported on Tuesday. | With a new round of $1,400 stimulus checks pouring in and the economy continuing to recover, the US trade deficit surged to a record $74.4 billion in March, the Commerce Department reported on Tuesday. |
| RT’s Keiser Report looks into why this trend is likely to continue since the global manufacturing base has long since moved to China. | RT’s Keiser Report looks into why this trend is likely to continue since the global manufacturing base has long since moved to China. |
| According to Stacy Herbert, the reality is that America relies on Chinese goods and services. | According to Stacy Herbert, the reality is that America relies on Chinese goods and services. |
| “We have a lot of printed money, a lot of stimulus checks, a lot of Biden-bucks, but the fact is you need someone to send you goods for that,” she points out. | “We have a lot of printed money, a lot of stimulus checks, a lot of Biden-bucks, but the fact is you need someone to send you goods for that,” she points out. |
| Max Keiser adds: “The United States is a consumer economy, it’s not a manufacturing economy. So if you send everybody a check, they’re going to consume with it. And that means they are going down to Walmart and consume. And that means the money goes to China.” | Max Keiser adds: “The United States is a consumer economy, it’s not a manufacturing economy. So if you send everybody a check, they’re going to consume with it. And that means they are going down to Walmart and consume. And that means the money goes to China.” |
| For more stories on economy & finance visit RT's business section | For more stories on economy & finance visit RT's business section |