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While it is likely some refined products such as diesel fuel will be exported, economists have suggested that any such exports would help, not hurt the economy by providing a major boost to the current trade deficit.
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Last year, 136, 222 American-made vehicles were exported to China, a significant figure considering that auto exports to that nation totaled less than 1, 000 as recently as 2003.
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Information provided by Metal Pages, a news site that focuses on non-ferrous metals, ferro alloys and rare earths, indicated that rare earth elements exports have dropped 65% in 2011 and that China has only exported 11, 000 metric tons of rare earths through the first three quarters of the year.
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Half of that is exported, according to the Department of Agriculture, and about 80% of those exports are long-grain varieties.
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Moreover, the DOE study concluded there to be a direct correlation between exports and economic gains: the more LNG that is allowed to be exported, the greater the net benefits to the United States economy in the form of real income.
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Brazil exported 1.3 million metric tons of beef last year compared to U.S. exports of 1.1 million tons.
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But according to a number of studies, roughly half of East Asia's exports to China are components, such as semiconductors and hard drives, for goods that are ultimately exported elsewhere.
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