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.
America is the worldâs number-one trading nation in both imports and exports. Between 1992 and 1997, U.S. exports of goods and services surged from $617 billion to $932 billion. The reason the trade deficit has grown is that imports have increased even faster, from $657 billion to $1,046 billion.