North America about to be hit by tsunami of Far East goods
By Jerome R. Corsi
Yangshan
The Chinese deep-water port at Yangshan, near Shanghai, provides ample evidence North America is about to be hit by a tsunami of containers from China.
Yangshan is a reclaimed island the size of 470 soccer fields that lies in the East China Sea Port, offshore from Shanghai.
According to Bloomberg News, the Chinese have invested $15 billion to develop Yangshan, currently the largest port in China.
Currently handling 20 million containers a year, Yangshan is expected by 2010 to operate up to 30 berths, capable of exporting 30 million containers a year, with the vast majority destined for North America.
The Chinese developed Yangshan to accommodate the largest post-Panamax megaships now being constructed, with a capacity to carry up to 12,500 containers, three or four times the size of container ships now operating.
Yangshan Port is connected to the mainland by the 20-mile long Donghai Bridge.
As a clear indication of globalism's impact on the U.S. economy, international trade has grown from 13 percent of the U.S. Gross Domestic Product in 1990, to 24 percent in 2000, with projections of 30 percent by ...   more »