Increased Chinese Investment Will Fuel U.S. Exports, Says Chinese Commerce Official
Should U.S. officials dismantle Chinese investment barriers in the U.S., the U.S. will reap the benefits of increased exports to China, said Chinese Vice Minister of Commerce Wang Chao on Nov. 15, according to a press release (here). Wang Chao…
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spoke at the China-U.S. Investment Promotion Forum in Beijing. The U.S. deficit with China continues to rise, topping off at over $30 billion in September (here). The sheer U.S.-Chinese trade and investment relations, however, is critical to both economies, said Wang Chao. “Bilateral trade volume developed from USD 2.45 billion in 1979, to USD 484.7 billion in 2012, increasing almost 200 times,” said Wang Chao, according to the release. “U.S. is still one of the largest sources of foreign investment, and meanwhile, China’s investment in U.S. is enjoying a rapid growth."