Deflecting Sino-US Trade Friction

来源: CHINA FOREX 2017 Issue 2 作者:Dong Yan

The leaders of China and the United States met at Mar-a-Lago in the US state of Florida in April,agreeing to undertake a 100-day review of bilateral trade issues in a bid to head off heightened trade friction. Since President Donald Trump took office in January,US economic and trade policies have been taking a new tack. As China has the largest trade surplus with the US,pressure on Beijing for an adjustment of its trade policy has been increasing.  China and the US need long-term vision to help manage their important relationship. Policy adjustments are needed to find a new balance in the economic and trade equation.

Since China began its reform and opening policies nearly four decades ago,its economic ties to the US have become ever more interconnected. Sino-US trade and investment has accelerated significantly since China's accession to the World Trade Organization in 2001.

China is the largest source of US imports and the third largest export destination for US goods. In 2016,total trade between China and the United States reached US$578.59 billion. US imports from China stood at US$462.81 billion and US exports to China were US$115.78 billion,leaving China with a trade surplus of US$347.04 billion.

Sino-US investment links are also increasingly close,with investment funds moving in both directions. US direct investment in China increased from a mere US$32,600 in 1986 to US$3.83 billion in 2015. China's outbound direct investment has grown rapidly since the implementation of a "go global" strategy in 2001,and direct investment in the US reached an accumulated US$5.1 billion in 2015.

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