The Impact of China's Slowdown: U.S. States (FXP)
Submitted by WSN_Staff on Wed, 02/03/2010 - 15:14.
Besides loading up positions in the ProShares UltraSh FTSE/Xinhua China 25 (Public, NYSE:FXP), if the China bubble bursts and there's a big slowdown of U.S. imports it could greatly hurt 10 U.S. States including the battered state of California.
Today the FXP is trading at $9.13 a share and since Jan 12th the fund is up 12% despite rising and falling during that time almost on a daily basis. Back to the U.S. States that could be hurt, No #1 is California which already has a 12.4% unemployment rate:
California:
2008 exports: $11.0 billion
Exports to China growth, 00-08: 211%
Top exports: Computers & Electronics, Waste & Scrap, Machinery
Potential loser if China craps out: Oracle (employs 12,000)
Source: US-China Business Council
Review the full list at http://www.businessinsider.com/ten-states-about-to-get-murdered-by-the-china-slowdown-2010-2#10-ohio-1
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