How Reliant Is Each U.S. State on Foreign Trade?
Whether it is lashing out on China for unfairly weakening its currency, or calling out “unfair” government subsidies on Canadian softwood lumber, it’s safe to say that re-opening discussions about foreign trade has become a key priority under President Trump.
Is this the right route to take, and does America really need to negotiate new trade deals?
There are arguments either way, but the the reality is that trade agreements like NAFTA are perceived to have a mixed track record of success. Under NAFTA, trade volume has exploded, prices have been lowered, and U.S. reliance on oil imported from the Middle East has decreased, but at the same time, it is clear that manufacturers, especially in the auto industry, have been setting up shop in Mexico. As a result, at least partially, manufacturing jobs hover near all-time lows.
Walking the Tightrope
The biggest challenge with acting on these re-negotiation ambitions is that it’s inherently risky, no matter how you slice it. Any big slip up or ill-advised trade war could have a drastic impact on the economy.
Today’s data visualization, which comes to us from HowMuch.net, highlights this risk in a relatable way by showing the reliance on foreign trade as a percentage of GDP for each state.
Here are the state economies most dependent on foreign trade:
|Rank||State||Foreign Trade||Trade as % of State GDP, 2015|
|3||South Carolina||$70 billion||34.8%|
|8||New Jersey||$152 billion||26.7%|
The state that stands out the most? It’s Michigan, the country’s auto manufacturing hub.
In 2015, a total of $171.8 billion (38.0%) of economic activity in the state was linked to foreign trade. Whether that’s buying aluminum from Canada to build a lighter chassis for Ford F-150s, or it’s one of the 2.6 million vehicles that the United States exports to 200 countries every year – that’s a large chunk of economic activity to muck around with.
Right now, the global economy is built around trade. And regardless of whether re-negotiating trade agreements is the right or wrong thing to do for Trump, the potential risks of any missteps ought to be respected.
Visualizing EV Sales Around the World
With global sales hitting new milestones and adoption rates rising, are electric vehicles now becoming a mainstream option for drivers around the world?
It took five years to sell the first million electric cars. In 2018, it took only six months.
The Tesla Model 3 also passed a significant milestone in 2018, becoming the first electric vehicle (EV) to crack the 100,000 sales mark in a single year. The Nissan LEAF and BAIC EC-Series are both likely to surpass the 100,000 this year as well.
Although the electric vehicle market didn’t grow as fast as some experts initially projected, it appears that EV sales are finally hitting their stride around the world. Below are the countries where electric vehicles are a biggest part of the sales mix.
The EV Capital of the World
Norway, after amassing a fortune through oil and gas extraction, made the conscious decision to create incentives for its citizens to purchase electric vehicles. As a result, the country is the undisputed leader in EV adoption.
In 2018, a one-third of all passenger vehicles were fully electric, and that percentage is only expected to increase in the near future. The Norwegian government has even set the ambitious target of requiring all new cars to be zero-emission by 2025.
That enthusiasm for EVs is spilling over to other countries in the region, which are also seeing a high percentage of EV sales. However, the five countries in which EVs are the most popular – Norway, Iceland, Sweden, Netherlands, and Finland – only account for 0.5% of the world’s population. For EV adoption to make any real impact on global emissions, drivers in high-growth/high–population countries will need to opt for electric powered vehicles. (Of course power grids will need to get greener as well, but that’s another topic.)
China’s Supercharged Impact
One large economy that is embracing plug-in vehicles is China.
The country leads the world in electric vehicle sales, with over a million new vehicles hitting the roads in 2018. Last year, more EVs were sold in Shenzhen and Shanghai than any country in the world, with the exception of the United States.
China also leads the world in another important metric – charging stations. Not only does China have the highest volume of chargers, many of them allow drivers to charge up faster.
Accelerating from the Slow Lane
In the United States, electric vehicle sales are rising, but they still tend to be highly concentrated in specific areas. In around half of states, EVs account for fewer than 1% of vehicle sales. On the other hand, California is approaching the 10% mark, a significant milestone for the most populous state.
Nationally, EV sales increased throughout 2018, with December registering nearly double the sales volume of the same month in 2017. Part of this surge in sales is driven by the Tesla’s Model 3, which led the market in the last quarter of 2018.
North of the border, in Canada, the situation is similar. EV sales are increasing, but not fast enough to meet targets set by the government. Canada aimed to have half a million EVs on the road by 2018, but missed that target by around 400,000 vehicles.
The big question now is whether the recent surge in sales is a temporary trend driven by government subsidies and showmanship of Elon Musk, or whether EVs are now becoming a mainstream option for drivers around the world.
How Much Copper is in an Electric Vehicle?
Have you ever wondered how much copper is in an electric vehicle? This infographic shows the metal’s properties as well as the quantity of copper used.
How Much Copper is in an Electric Vehicle?
Copper’s special relationship with electricity has been apparent since ship designers first regularly began installing copper to protect the masts of wooden ships from lightning in the early 19th century.
Today, of course, you might be more used to seeing copper’s electrical applications through the use of power lines, telephone wires, and wiring in practically every major home appliance you own.
Millions of tons get used for these applications every year, but it is still early days for copper’s use in electrification. That’s because copper will continue to be a critical component of the green energy revolution, thanks to the rising adoption of battery-powered vehicles.
Today’s visualization comes to us from Canadian Platinum Corp., and it focuses on showing how much copper is in an electric vehicle, along with the properties that make it the ideal choice for an EV-powered future.
Here is why copper is a crucial component to vehicle manufacturers:
Copper costs roughly $0.20 per ounce, compared to silver ($15/oz) and gold ($1200/oz), making it by far the cheapest option for electrical wire.
Copper is nearly as conductive as silver – the most conductive metal – but comes at a fraction of the cost.
Copper can easily be shaped into wire, which is important for most electrical applications.
It’s also important to note that temperature does not affect copper’s conductivity, which makes the metal ideal for automobiles in all climates.
Copper in Gas vs. Electric Vehicles
The UBS Evidence Lab tore apart a traditional gas-powered vehicle as well as an EV to compare the different quantities of raw materials used.
What they found was crucial: there is 80% more copper in a Chevrolet Bolt, in comparison to a similar-sized Volkswagen Golf.
The major reason for this is that at the heart of every EV is an electric motor, which is built with copper, steel, and permanent magnets (rare earths). Electric motors tend to be much simpler than gas-powered engines, which have hundreds of moving parts.
Incredibly, in an electric motor, there can be more than a mile of copper wiring inside the stator.
The More Electric, the More Copper
According to Copper.org, along the scale from gas-powered cars to fully electrical vehicles, copper use increases dramatically.
Conventional gas-powered cars contain 18 to 49 lbs. of copper while a battery-powered EV contains 183 lbs. Meanwhile, for a fully electrical bus, a whopping 814 lbs. of copper is needed.
With the rapidly increasing adoption of electric vehicles, copper will be an essential material for the coming electrification of all forms of ground transport.
Copper is at the heart of the electric vehicle and the world will need more. By 2027, copper demand stemming from EVs is expected to increase by 1.7 million tonnes, which is a number just shy of China’s entire copper production in 2017.
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