Quick Take: The U.S. exports fast food to China
In September, the monthly U.S. goods deficit with China continued its ascent, rising to $29.1 billion, from $28.7 billion in August. This is only the second time in U.S. history that the monthly trade gap with China has exceeded $29 billion.
At this rate, the U.S. stands to surpass the trade deficit it racked up with China in 2011, $295.4 billion.
Ironically, even as imports from China continue to outpace U.S. exports, America is able to export some of its most durable brands. Specifically, fast food franchises like Pizza Hut, KFC, and McDonald's are expanding their chains in China.
As MSNBC reports, U.S.-based restaurant chains hope that Chinese consumers will drive future growth. One example, Yum! Brands, which owns the KFC label, already derives half its revenues from its 5,000 restaurants in China. The company hopes to have at least 20,000 outlets in years to come.
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