|Sino-US trade still strong despite disputes: experts(12/04/03)|
Disputes shadowed Sino-US trade in the last few months of 2003, but trade experts were optimistic,
saying trade between the two countries will still grow strongly.
Zhang Xiaoji, director of the Foreign Economic Relations
Department of the Development Research Center of the State Council
of China, said in an interview with Xinhua that Sino-US trade has
entered a stage of interdependence.
China has become a major supplier of labor-intensive products
for the US consumers and the United States is China's second
largest trading partner after Japan.
Sino-US trade surged 30.7 percent year-on-year to hit 102.48
billion US dollars in the first 10 months, figures from the
Chinese Customs show. It was more than the figure of last year,
recorded at 97.18 billion US dollars.
China bought 27.56 billion US dollars worth of planes,
fertilizer, power station equipment, chemical products,
electronic facilities and machinery from the United States in the
January-October period, up 25.7 percent.
Chinese exports to the United States reached 74.92 billion US
dollars, with the main goods being shoes, garments, toys and
machinery and electronic products, official figures show.
China is now the fourth largest trading partner of the United
"This should be a good indicator of the interdependence between
China and the United States in terms of trade," Zhang Xiaoji said.
"The different economic structure has produced huge
complementation and potential for Sino-US trade."
The trade disputes, sparked in November by the US decision to
re-impose import quotas on knit fabric, bras and gowns made in
China and the negative anti-dumping verdict on Chinese color TV
sets, will not stop the strong growth of trade, experts predicted.
Wang Youli, a researcher in the Chinese Academy of
International Trade and Economic Cooperation, the think-tank of
the Ministry of Commerce, said the heating situation was a
byproduct of the US economic condition and its rising trade
"China's implementation of its commitments to the World Trade
Organization, its lowered customs duties, and its willingness to
settle the disputes through dialogues in a row, will help create a
favorable condition for future trade development," Wang said. "
Sino-US trade will progress despite the disputes."
Trade disputes will likely be a major topic during Chinese
Premier Wen Jiabao's upcoming visit to the United States. Wen said
in a recent interview with the Washington Post that during his
first visit to the United States as Chinese premier he will
suggest to establish a dialogue mechanism between the two
countries to prevent trade disputes.
President Douglas L. Devos of Amway Corporation said setting up
unnecessary trade barriers may harm the overall interests of the
Economic cooperation and trade between the United States, the
world's largest market, and China, a growing market with huge
potential, serve the interests of the two countries' companies,
governments and peoples, he said.
Devos said he hopes the upcoming visit by Premier Wen Jiabao
would inject new vigor to trade between the two countries.
Zhang Xiaoji predicted that the possible establishment of a
dialogue mechanism will help clear barriers to Sino-US trade.
"The momentum of trade growth will continue next year and the
year ahead," Zhang said. "Differences again might emerge, but
trade will grow with the help of dialogue which could reduce