The U.S. trade deficit with China reached a record US$202 billion last year, and it is estimated to increase to $228 billion this year. Monday, U.S. Commerce Secretary Carlos Gutierrez arrived in Beijing again to find ways to narrow the trade gap between the two countries.
"The future should be focused on exporting to China," Gutierrez told reporters in Beijing.
Boosting U.S. exports to China is the right step to narrow the trade gap. China exports millions of pairs of jeans, or millions of boxes toys in exchange for an airplane. If the U.S. government allows more high-tech products to be exported to China, the trade imbalance could easily be improved.
Of course, I said if.
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The U.S. deficit with China reflects that US need export more to China.
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Posted by: Moonzie | August 9, 2007 9:00 AM | Permalink to Comment