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Unit 9: International Markets: Reading 1: Trade Between China and The Us Activity 1: Discussion
Unit 9: International Markets: Reading 1: Trade Between China and The Us Activity 1: Discussion
Article 1
by Xin Zhiming
The US economy is currently slowing, while its trade deficit with China remains high,
standing at $163.3 billion last year. The deficit has led to protectionism against Chinese goods
and investment in the US.
The two countries should make 'defending and preserving the openness of the trade
relationship a core commitment ', the White Paper said. ‘Instances of co-operation between
China and US far exceed instances of dispute. '
An open US and an open China will lead to sustained benefits for both US companies and
citizens back home,' said Harley Seyedin, Chairman of AmCham South China.'
Article 2
by Andrea Hopkins
Even when they found new jobs, workers who had lost jobs
to Chinese competition saw their earnings decrease by an
average of $8,146 each year because the new jobs paid less,
according to the report, funded in part by labor unions.
"(We hope) it will help to focus the debate on trade to where it needs to be right now
with respect to China," said Scott Paul, Executive Director of the Alliance for American
Manufacturing.
US manufacturers, labor unions, and many lawmakers have long accused China of
manipulating its currency to give Chinese companies an unfair advantage in international trade,
and are pressing China to continue to allow the yuan to rise against the US dollar.
China has said the United States should recognize how much its yuan currency has
already risen against the dollar – it is about 20 per cent higher since China revalued its
currency in July 2005.
China has also said the fact that Americans save much less of their incomes than the Chinese do
has increased the trade deficit. Chinese-made goods have been extremely popular in recent years
with US consumers looking for low prices.
from Reuters