How much does the world want Chinese products?
Even though the United States’ total volume of exports is three times larger than China’s, the U.S. runs a trade deficit of almost $450 billion. China, on the other hand, has a trade surplus. Trade, which often leads to greater foreign investments, jobs and higher quality goods for export, increased by 28 percent in 2000. Will the U.S. be able to maintain its lead? Think you know it all? Keep this in mind… • China’s export growth could be slowing down. In 2001, China’s exports grew by just 6.8 percent, much lower than the 28 percent growth rate in 2000. • The United States’ high technology exports are 34 percent of the total manufactured exports, while Chinese high tech products make up only a little over 18 percent of manufactured exports. • China’s small trade surplus could be threatened as demands for imported goods such as cars rise in China and as weakness in the global economy continues and exports wane. Sources: World Bank, CIA World Factbook 2001, BBC News Communications and In
