Bryson's visit to China continued today in Beijing where he started the morning
with a breakfast with U.S. and Chinese CEOs. The breakfast was led
by Secretary Clinton and Secretary Geithner, with United States Trade
Representative Ron Kirk and Ambassador Gary Locke also joining. The group
discussed the importance of the U.S - China economic relationship and what can
be done to continue the growth of trade and investment between both
countries. Bilateral trade between the U.S. and China reached
over $500 billion last year, with U.S. merchandise exports reaching
$100 billion for the first time.
Secretary's day continued as he joined Secretary Clinton and Secretary
Geithner for separate meetings with Chinese President Hu Jintao and Premier Wen
Jiabao. Bryson then joined Ambassador Kirk for lunch with their Chinese
counterpart, Minister of Commerce Chen Deming.
the S&ED, Bryson has stressed the importance of the U.S. - China
economic relationship and how it is critical that both sides follow
through on commitments made not just at this S&ED, but at
prior and future talks. Or as Bryson put it, "we must work harder... we
must be bold... and we must follow through."
the government meetings, Ambassador Kirk and Secretary Bryson participated
in an event with the American Chamber of Commerce in China and the U.S. China
Business Council. There Kirk and Bryson heard straight from U.S.
business leaders doing business here in China. They
discussed opportunities, challenges, and what the U.S. government can do
to support increased exports from the United States to China.
The Philadelphia Fed has just released leading indices for the states. Wisconsin growth is forecasted to decelerate from March growth rates, while Kansas forecasted growth is near zero since the beginning of the year.
From the MacIver Institute, “The Free Market Voice of Wisconsin”:
Secretary Reggie Newson, Department of Workforce Development, and John Koskinen, Chief Economist for the Department of Revenue, both gave testimony that Wisconsin is heading in the right direction.
Secretary John Bryson spent his last day in China in the financial capital of Shanghai. He began his day with a group of American business leaders based in China. The leaders, members of American Chamber of Commerce in Shanghai and the U.S.-China Business Council, exchanged ideas and shared information about the opportunities and challenges of day to day business operations in China. As Secretary Bryson said to the group, our bilateral trade with China reached over $500 billion last year, with U.S. merchandise exports reaching $100 billion for the first time. However, with a trade deficit close to $300 billion, we still have a lot of work to do.The Secretary then gave remarks at a tourism event, highlighting the robust and growing travel of Chinese tourists to the United States. In his remarks, Secretary Bryson pointed out that "travel and tourism between our countries is crucial to building stronger cultural and economic ties. This generates greater understanding and friendship between our people. And yes, it also generates greater prosperity."
The Wisconsin Department of Workforce Development today released figures for January employment revised to account for benchmark revisions. Nonfarm payroll employment and nonfarm private employment both rose. But the latter just barely exceeded levels of a year previous, while nonfarm payroll employment fell short.
Figure 1 presents the nonfarm payroll employment series, while Figure 2 presents the private nonfarm employment series.
Key numbers: 79 thousands and 81 thousands
Those are the figures for the shortfall for the 250,000 private jobs commitment made by Governor Walker as of June, and the shortfall predicted for January 2015 by the Wisconsin state government’s own forecast in the Wisconsin Economic Outlook, released today. Figure 1 below shows it all.
Individual Global Investor submits:Trade figures out of the United States and Canada today confirm that the global recovery is slowly moving forward. Looking at the trade of physical goods is one of the best measures of economic momentum. In my look at these figures last month, the story was of robust German trade in November.