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27 China has had the <strong>World</strong>’s largest Gross Domestic Product (GDP) in all but 225 years out of the past 2,000 years China's GDP is about $3.5 Trillion, and the US GDP is about $14 Trillion Their $550B bailout = 14%, ours is ~5% Theirs is going into technology & infrastructure, ours is restoring failing financial institutions China's central bank reserves are 987 billion as of November 2008 The country's annual trade surplus or the amount exports exceed imports ballooned to $262.2 billion, up 47.7 percent from 2006 Exports in the 1 st qtr 2008 amounted to 424.6 billion U.S. dollars, up 21.5 percent, or 6 percentage points less than a year earlier. Imports were 366.6 billion U.S. dollars, up 27.9 percent, or 8.8 percentage points more than a year earlier. I watched the Yuan gain almost 20% against the Dollar since 2005. The US initially welcomed China's July 2005 decision to remove the peg tying the value of the yuan to the US dollar and link the yuan instead to a vaguely defined basket of currencies. Pressure soon grew in Washington, however, for a faster rate of appreciation as the US trade deficit with China continued to mount, sucking ever-more dollars into the Chinese treasury. When I started in China the Dollar was 8.2 Yuan, The currency hit a record high of 6.8099 on September 23. There is some indication that the Yuan may be weakened In September, China surpassed Japan to become the biggest foreign holder of US Treasury debt, with a total of $585 billion. China's $2 trillion in foreign-exchange reserves (the world's largest, followed by Japan's $1 trillion), are primarily invested in relatively low-yielding US government debt and the until recently considered safe debt of Fannie Mae and Freddie Mac, the two mortgage-finance companies taken over by the US government three months ago. Statistics that say the U.S. is producing 70,000 engineers a year vs. 350,000 from India and 600,000 from China aren't valid, the Duke team says. We're actually graduating more engineers than India, and the Chinese numbers aren't quite what they seem. In short, America is far ahead by almost any measure, and we're a long way from losing our edge. Actually - We found that the U.S. was graduating 222,335 engineers, vs. 215,000 from India. The closest comparable number reported by China is 644,106, but it includes additional majors. Looking strictly at four-year degrees and without considering accreditation or quality, the U.S. graduated 137,437 engineers, vs. 112,000 from India. China reported 351,537537 under a broader category. All of these numbers include information technology and related majors