China edges past Canada in furniture import Derby. (Trends & News).CHINESE FURNITURE History China is one of the longest standing major civilizations in the world today. The familiar Asian minimalist aesthetic so often associated with Japan had its origins in China as far back as 1500 BC. and wood component imports narrowly swept past product shipments entering the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. from Canada for the first half of the year. The United States imported $1.244 billion worth of wood and upholstered furniture and parts from China during the first six months of 2001, compared to $l.232 billion worth from Canada. Combined, the two radically divergent di·ver·gent adj. 1. Drawing apart from a common point; diverging. 2. Departing from convention. 3. Differing from another: a divergent opinion. 4. tracing partners accounted for 50% of U.S. furniture and component imports, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. January-June 2001 data released by the U.S. Department of Commerce. Canada has held the U.S. furniture import title since 1994, when it unseated Taiwan. Taiwan, which has since slid to No. 7, and Canada are among six of the top 10 U.S. furniture import sources to register first-half declines from last year. China finished No. 4 in 1994, then lagging Lagging Strategy used by a firm to stall payments, normally in response to exchange rate projections. behind Canada $754 million to $427 million. China has sustained tremendous growth ever since in its rush to the top. Whereas Canada's furniture trade fortunes have largely been borne from NAFTA NAFTA in full North American Free Trade Agreement Trade pact signed by Canada, the U.S., and Mexico in 1992, which took effect in 1994. Inspired by the success of the European Community in reducing trade barriers among its members, NAFTA created the world's and its proximity to the United States, China's major benefit has been cheap labor, the almost overnight creation of a formidable furniture manufacturing base, close knit ties with major U.S. furniture makers and most favorable trade nation status. Trade Deficit Rises Due almost exclusively to China's gains, total U.S. furniture imports increased 2.1% during the first six months to $4.958 billion, while U.S. furniture exports dipped 7.7% to $597 million. The first half trade deficit of $4.261 billion in 2001 was 1.3% higher than in 2000. The U.S. wood furniture trade deficit surpassed $9 billion at the end of 2000. [GRAPH OMITTED] |
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