Now shopping mall giant (Dalian) Wanda, owned by Chinaâs richest man Wang Jianlin, and Vanke, the worldâs biggest residential real estate developer, founded by the mountaineering-loving Wang Shi, have âstunned the capital markets,â in the words of Chinese news site The Paper, by announcing a âstrategic partnership.â.
The second macroeconomic consideration of increased imports is the impact on exchange rates. As we have shown in the previous section, as U.S. consumers increase their consumption of imports, the supply of dollars in foreign exchange markets rises.
In 2016, total U.S. trade with foreign countries was $4.9 trillion. That was $2.2 trillion in exports and $2.7 trillion in imports of both goods and services. The United States was the world's third-largest exporter, after China and the European Union. It was the world's second-largest largest importer after the EU.