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Strategies & Market Trends : China Warehouse- More Than Crockery
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To: RealMuLan who wrote (1767)12/7/2003 1:56:28 PM
From: RealMuLan  Read Replies (1) of 6370
 
Economic relationship playing key role in Sino-US ties
By Priscilla Huff, Channel NewsAsia's US correspondent




The US economy grew a sharp 8.2% in the third quarter, much of which is fuelled by US consumer spending and the products Americans are buying often come from China.

The US holds a trade deficit of US$130b with China and this economic relationship is playing a key role in the evolving relationship between Beijing and Washington.

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Americans love nothing better than a bargain such as low-priced electronics, many of which are imported from China.

Richard Bush from the Brookings Institution said: "Consumers like cheap products, and they look to China for those. As long as that's the case, China is going to benefit and we're probably gonna run a trade deficit with China."

Still, American shoppers may be finding higher prices on some items, after the Bush administration slapped tariffs on Chinese-made television sets and textiles in November.

China retaliated by postponing purchases of American agricultural products, including soybeans, wheat and cotton.

The White House imposed the tariffs because in politically-sensitive states such as the Carolinas, textile manufacturers claim inexpensive Chinese clothing is putting them out of business.

Economic experts say low production costs are just one factor for China's cheap products.

channelnewsasia.com
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