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US trade with China is not a two-way street. Imports from China have exploded in the last two decades, but a GAO report finds the United States is losing market share when it comes to exports to Communist China.
"Our current trade patterns with...with China are leeching wealth from us rather than adding to wealth here."
The US share of world good exports to China dropped from 12% in 1995 to 9% in 2004. Meanwhile, Taiwan and South Korea's share of exports expanded. During those same years, the US trade deficit with China ballooned from 34 billion dollars to a whopping 162 billion dollars. The United States is losing ground on exports to China in a range of sectors: aircraft, automaking, chemicals, electronics and high-tech. No surprise, the same fields that have seen mounting job losses.
"We're still doing a lot of creativity, a lot of. . . if you will, masterminding of the products here. But there are fewer and fewer jobs connected to that, and when you look at the production of this, where there's the bulk of the jobs, much of that is shifting to Asia."
Significant, because US business groups have long argued trade liberalization would fling open the doors to new Chinese consumers. Instead China has become an export platform. Asian countries provide parts and components to Chinese firms, who ship off the finished goods to the United States.
One reason China has been able to sell goods so cheaply in the United States is because the Chinese government controls its currency to suit its needs. Senators Charles Schumer and Lindsey Graham have introduced a bill aimed at levelling the playing field. That bill would slap a tariff on Chinese goods. It's on the docket and could be brought up early next year.
Lisa Sylvester, CNN, Washington.
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leech: 依附并榨取他人 |
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