NEWSLETTER Issue III of 2017
2017/01/18

 

 USCBC & Oxford Economics Release Study on
US Jobs and Trade
 with China

 

On Jan. 10, 2017, the US-China Business Council and Oxford Economics announced the release of a new report, "Understanding the US-China Trade Relationship." This research sheds light on an important question: "what role does trade with China play in the health of the US economy?"

Some Key findings of the report:

·Today, trade with China supports roughly 2.6 million US jobs, across many industries.

·China purchased 7.3 percent of all US exports ($165 billion in goods and services) from the United States in 2015,  and the United States actually has a surplus with China of 0.2 percent of GDP on trade in services.

· China is expected to continue to be one of world's fastest, if not the fastest, growing major economies, fueling more market opportunities for US businesses. By 2030, Oxford Economics expect US exports to China to rise to more than $520 billion.

·China is the "Great Assembler;" about one-third of the content that China exports is foreign. Adjusting the trade balance for the value-added content cuts the US trade deficit with China in half, to about 1 percent of GDP. This is broadly equivalent to the US trade deficit with the European Union.

You can find the full report here:

https://www.uschina.org/sites/default/files/OE%20US%20Jobs%20and%20China%20Trade%20Report.pdf

 

 

Embassy of the People's Republic of China

3505, International Place, NW Washington DC, 20008

chineseembassyspokesperson@gmail.com

 

Your comments are welcome.

 

 

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