Patrick Whittle, Lobster-Crazy China Sets Record for US Crustacean Imports. Associated Press, Mar 19, 2017.
http://www.japantimes.co.jp/news ... as-crustacean-craze
("Last year, China imported more than $108 million in lobsters from America * * * Chinese importers took in more than 14 million pounds of US lobsters last year * * * Maine, where most of America's lobster catch comes ashore. Fishermen caught more than 130 million pounds [of which 14 million went to China] of lobster in Maine last year, an all-time record and more than double the 2007 total")
My comment:
(a) It is a mystery why more and more lobsters are caught despite more have been caught. No one figures it out. But US is not worried, because there is no sign of depletion.
(b) An average lobster in US is a pound. So "14 million pounds" is roughly 14 million lobsters.
(c) The last paragraph has a typo: "Lobster sales to China do not appear to be slowing down in the new year. America exported more than 1.7 million pounds and $14 million in lobsters to the country in the first month of the year."
The "and $14 million in lobsters" is superfluous.
(d) The uptick should be viewed through the lens of (mainly because investors trust dollar) strong US dollar for years (which theoretically should reduce imports to China), that (relatively speaking) depreciates renminbi (and other currencies, including Japanese yen), which in turns forces China to spend its foreign reserve to save renminbi (to prop up confidence in that currency). |