The United States Has Benefited From China'S Economic And Trade Cooperation &Nbsp; The Chinese Market Has Been Rocking Qian Shu.

Lucrative investment returns.

At the beginning of the new year, some big American companies showed off China.

Intel China executive director Ge Jun is ambitious: "the Chinese government is vigorously promoting the" three networks convergence "and development.

According to statistics from the Ministry of Commerce of China, as of the end of 2010, the United States invested more than 5.9 thousands of investment projects in China and invested 65 billion 223 million US dollars in real terms. China has gradually become the profit center of many US funded enterprises.

According to a survey released by the Sino US Chamber of Commerce last year, 71% of American enterprises in China realized profits in 2009, and 46% of the surveyed enterprises had a higher profit margin in China than their global profit margins.

Moreover, in the past 10 years since the entry into the WTO, China has committed to open 100 service sectors with investment from American enterprises.

In the field of accounting, banking, insurance, securities, business and so on, American service enterprises in China "make a big profit" and have good business performance.

At present, China is the second largest trading partner of the United States and the fastest growing market for US exports.

According to the latest figures released by the General Administration of Customs of China, the trade volume between China and the United States in 2010 was 385 billion 340 million US dollars, up nearly 30% compared with the same period last year, of which China imported $102 billion 40 million from the United States, an increase of 31.7% over the same period last year.

If we extend the time further, we can see clearly the rapid growth of US exports to China: according to the statistics of the US Department of Commerce, from 2001 to 2008, US exports to China increased from US $19 billion 200 million to US $71 billion 500 million, an increase of 272%, while US exports to other countries and regions increased by only 72% during the same period.

In 2009, the US side's difference was $7 billion 430 million, nearly 4 times that of 2001.

Through rapid growth in exports to China, the US side shared the dividends of China's economic growth.

The states of the United States get tangible benefits, and the top five export markets of 40 of the 50 states include China.

Over the past 10 years, US manufacturing and agricultural exports to China have increased by 330%, far higher than the US's 29% growth rate for the rest of the world.

China has become the largest single overseas market for soybeans and cotton in the United States, as well as an important export market for electromechanical products such as automobiles and airplanes.

In 2010, a report released by the US China Trade Commission said: "in the global recession, China continues to be an important exporter of US manufacturers and farmers."

Zhou Shijian, senior researcher at the Sino US relations research center of Tsinghua University, believes that if there is no rapid growth in China's exports, President Obama's plan of export doubling for 5 years is probably hard to fulfill.

Increasing consumer welfare and expanding job opportunities

The US side is fully benefited from economic and trade cooperation with China.

In the economic and trade cooperation with China, the United States not only benefited directly from its export and investment to China, but also gained extensive and huge macroeconomic benefits, which first showed that China's exports to the United States greatly increased the welfare of American consumers.

According to statistics, in China's products entering the US market, clothing, footwear, toys, bags, electronic appliances and other consumer goods account for about 75%.

These high quality and inexpensive Chinese products have greatly enriched the lives of the American people, expanded the choice of American consumers, brought benefits to the residents of the United States, especially the middle and low income groups, and helped us maintain a relatively low inflation rate under the pressure of huge "double deficits".

According to the results of the US Morgan Stanley Inc study, Americans only saved $more than 300 per person in 2009 alone by buying goods from China.

According to the research results of the US China Trade Commission, by 2010, the US GDP will grow by 0.7% more because of its increase in trade and investment in China, while the price will drop by 0.8% in the same period, which is equivalent to an increase of US $1000 per household in the US every year.

"Chinese goods meet the needs of American consumers, which is conducive to stabilizing the market price level, reducing the risk of inflation and keeping the economy running smoothly."

Liu Haiquan, director general of the Ministry of Commerce of China, said.

Sino US economic and trade cooperation has also effectively increased American jobs.

On January 2010, US Secretary of Commerce Luo Jiahui delivered a speech in the US China trade National Committee. "Every 1 percentage point increase in Asian exports will add 100 thousand jobs to the United States."

Accordingly, from 2001 to 2008, US exports to China increased 2 million 570 thousand jobs for the United States.

Chinese enterprises' direct investment in the US has grown strongly in recent years, and has also made positive contributions to local employment.

Some large Chinese companies investing in the US, such as COSCO, PetroChina, Lenovo and others, have provided employment opportunities to the local community with considerable economic and social benefits.

Since the establishment of the industrial park in South Carolina in 1999, Haier group has created thousands of jobs for Kendon. 1 of the 10 families in the city have Haier employees, and Kendon has developed into an "home appliance city" with an annual output of about 200000 household appliances.

Nearly 30 projects invested by Wanxiang Group in the US have created nearly 5000 "rice bowls" for the United States. In the context of the massive layoffs of US domestic companies in 2009, Wanxiang has created a number of new employment opportunities for Illinois through new investment.

The development of Sino US economic and trade cooperation is the result of deepening international division of labor under the background of globalization.

In the process, the United States has further developed its own advantages, especially the combination of China's abundant labor resources and the capital, technology and management advantages of American enterprises, which has improved the international competitiveness of American products and American enterprises, expanded the percentage of international market share of American enterprises, and created conditions for the pfer of US industries to high value-added fields.

Take the computer manufacturing industry as an example, in 2008, 150 million computers were produced in China, and almost all the CPU chips used were imported from companies like Intel and ultramicro semiconductor.

China is currently the largest holder of US Treasury bonds.

According to the US Treasury Department, as of October 2010, the balance of treasury bonds held by China reached US $906 billion 800 million.

During the international financial crisis, China not only did not sell US Treasury bonds but increased its holdings, which played an important role in maintaining the stability of the financial market, enhancing liquidity, easing the credit crunch, and promoting trade financing.

The US Congressional Research Bureau issued a report in July 2009 that if China did not buy American Treasury bonds on a large scale, the US interest rate would increase by 0.5 percentage points.

According to this estimate, the United States saved interest rate on treasury bonds for about 61 billion 600 million US dollars a year.

"China's trade surplus is too large"?

A rational view of the disharmonious voices of the US side

Although the United States has made huge profits from its economic and trade relations with China, the US voice of dissatisfaction with China has been heard for a long time, concentrating on the query that China's trade surplus is too large and the RMB exchange rate is undervalued.

What is the truth?

Historical data show that China's trade surplus is not long, and the scale of its surplus is not large. The proportion of GDP accounts for less than 3% in most years.

It was not until 2005 that the surplus grew faster.

Even so, China's trade surplus is not large compared with that of Germany and Japan.

For example, Germany has maintained a favorable balance of trade for 58 consecutive years since 1952, and its surplus reached 8% when its GDP reached its peak.

Some Gulf States have also maintained a large surplus for a long time due to resource endowments.

In addition, statistical differences and other factors have led to an overvaluation of the US trade deficit with China over the years.

It is especially noteworthy that China's trade surplus with the United States does not mean that the interests of the United States are damaged.

In fact, the profit is not just China, but the US business has gained the most value added from China's imports.

In 2010, the report published by the American think-tank Cato Institute pointed out: "the international division of labor between China and the United States has a" smile curve "mode, that is, the United States controls the pre production processes such as high profit trademarks, conceptual design and other post stage services such as logistics, sales and market development, while China only undertakes the medium term production and processing with low value-added.

From the perspective of profit ratio, the US side is the biggest beneficiary of Sino US economic and trade cooperation.

According to its estimates, the added value of products created by China accounts for only 1/3 - 1/2 of its total exports to the US.

According to the analysis published by the economist in Britain, the US Apple Corp iPod player, marked by "made in China", has a retail price of 299 US dollars in developed countries, of which the Chinese export assembly plant only earns us $4 in processing fees, while the US $160 has been awarded by the us design, pportation, storage and marketing sectors.

The exchange rate issue is another focus of Sino US economic and trade cooperation.

Some people in the United States believe that the value of the renminbi is seriously underestimated, which is the main reason for the imbalance between China and the US. They hope to expand US exports and stimulate their economic development through the appreciation of the renminbi and the depreciation of the US dollar.

But in fact, since China's reform in 2005, the RMB exchange rate has risen by about 25%. Compared with the US dollar, the euro, the yen and the pound, the appreciation rate of RMB is the largest.

As for the view that "the US trade deficit with China is related to the undervaluation of the RMB exchange rate", there is no basis for factual evidence.

He Weiwen, director of the Sino US trade and economic research center of the University of foreign trade and economics, said that China's foreign trade surplus increased rapidly from 2005 to 2008, but in recent years it was just the period when the RMB rose against the US dollar and appreciated 21.2%.

If the RMB exchange rate is undervalued, what is the opposite result?

Discordant voices are more than that.

Anti dumping, countervailing investigations, intellectual property rights protection, and independent innovation policies have repeatedly become the targets of the US side's difficulties to China. In recent years, frictions in Sino US economic and trade fields have increased significantly.

If these problems fail to be properly solved, they will directly hurt the interests of American enterprises and the public at the same time as they bring losses to "made in China".

For example, in 2009, the United States imposed special safeguard measures on tires imported from China.

According to statistics from the relevant departments of the United States, the import price of related tyres in the United States increased by 30% in the first half of 2010, while the overall employment in the US tire industry dropped by 10% over the first 5 months of 2010.

For example, the United States has been implementing export control for a long time in the field of high technology industry, which has caused many American enterprises to lose market opportunities, and Chinese users have to pfer relevant products from other countries.

According to statistics from the Chinese side, from 2001 to 2009, China's imports of high-tech products increased from US $64 billion to US $309 billion 850 million, with an average annual growth rate of 48%. However, the proportion of US high-tech products in China's total imports of high-tech products decreased from 18.3% in 2001 to 7.5% in 2009.

Assuming that the US maintains 18.3% share in the period, it can increase exports to China by US $33 billion 500 million in 2009 alone.

The prospect is very broad and needs further cooperation.

Developing mutually beneficial and win-win Sino US economic and trade relations

The United States is the largest developed country. China is the largest developing country and the largest emerging market. Sino US economic and trade cooperation has brought great benefits to both sides.

The differences between China and the United States in economic development and the mutual benefit of economic and trade cooperation are the basis for the steady and steady development of Sino US economic and trade relations.

In the process of economic globalization, China and the United States have formed a situation of interests blending.

The development of mutually beneficial and win-win Sino US economic and trade relations is in line with the fundamental interests of the two countries and the people of the two countries, and will continue to become an important cornerstone and impetus for the development of bilateral relations.

The prospects for economic and trade cooperation between China and the United States are very broad.

China is in an accelerated period of industrialization and urbanization. At the same time, it is accelerating the pformation of the mode of economic development, promoting economic restructuring, and expanding domestic demand, especially consumer demand as a long-term strategic policy and basic foothold for economic development. This process will release huge investment demand and consumption demand during the "12th Five-Year" period.

China is the world's largest exporter and second largest importer, and is expected to become the world's largest domestic consumer market in 2020.

For the American business community, this undoubtedly means better market opportunities and greater room for development.

Gao Ruibin, chairman of Motorola China Electronics Ltd, said that Motorola invested about 1 billion 500 million US dollars in R & D in China and more than 2700 R & D personnel. "The more China develops, the more business opportunities we will have.

Motorola is very optimistic about the Chinese market and is also willing to participate in China's independent innovation. "

It is understood that GE, IBM, Coca-Cola and other large multinational companies are actively participating in and supporting China's strategy of structural adjustment, energy conservation and emission reduction.

"The Chinese government will continue to implement the trade policy of basically balancing imports and exports, further deepen opening to the outside world, intensify reform and innovation, improve the degree of facilitation, and create more optimized and open investment environment for domestic and foreign investors.

Companies from all over the world, including the United States, will share the growing market "cake" with Chinese enterprises.

The head of China's Ministry of Commerce said.

Experts pointed out that the fruitful results of Sino US economic and trade cooperation were not easy to come by. The US side should adhere to the concept of free trade, oppose all forms of protectionism in trade and investment, reassess and relax export control measures to China as soon as possible, rationally carry out foreign investment review, reduce unnecessary restrictions and promote investment cooperation, and continue to strengthen macroeconomic policy coordination with China to promote balanced and sustainable development of the world economy.

The current period is the key period for the further development of Sino US economic and trade relations.

A sound development of Sino US economic and trade relations will help promote stable economic growth and global economic recovery.

Only from a strategic and long-term perspective can we continuously push forward the development of Sino US economic and trade relations so as to make greater contributions to the well-being of the people of both countries and the world.

Standing at a new starting point, we are confident of the future of Sino US economic and trade cooperation.