Call for competitive US exports
By Wang Yanlin |
October 20, 2010, Wednesday
|
Print Edition
Print Edition
IMPROVING United States export competitiveness in China is crucial to sustain economic growth and create jobs in the US, senior officials at the American Chamber of Commerce in Shanghai said yesterday.
A 12-member delegation of AmCham Shanghai visited the US last month and held more than 40 meetings over three days with a wide range of US firms. They lobbied the government at all levels to enhance Sino-US trade relations.
"China is a key market for US exports and arguably the most important destination for sustained export growth going forward," said Robert Roche, chairman of AmCham Shanghai.
Benjamin H. Kinnas, general manager of Wells Fargo Bank Shanghai Branch and a delegation member, said: "The real competitor of the US is not China, but other big traders who also want to increase their exports to China."
According to an AmCham Shanghai's latest report, while the US has increased its exports to China by 330 percent since 2000, the country still punches below its weight in comparison to overseas competitors.
In the second quarter of this year, American export of goods to China rose 24 percent from a year earlier but exports from Germany, South Korea and Japan jumped 53 percent, 39 percent and 29 percent, respectively.
The report said that capturing an additional 1 percent of China's import market translates into US$12.3 billion in extra US exports and creation of more than 76,000 jobs for Americans.
A 12-member delegation of AmCham Shanghai visited the US last month and held more than 40 meetings over three days with a wide range of US firms. They lobbied the government at all levels to enhance Sino-US trade relations.
"China is a key market for US exports and arguably the most important destination for sustained export growth going forward," said Robert Roche, chairman of AmCham Shanghai.
Benjamin H. Kinnas, general manager of Wells Fargo Bank Shanghai Branch and a delegation member, said: "The real competitor of the US is not China, but other big traders who also want to increase their exports to China."
According to an AmCham Shanghai's latest report, while the US has increased its exports to China by 330 percent since 2000, the country still punches below its weight in comparison to overseas competitors.
In the second quarter of this year, American export of goods to China rose 24 percent from a year earlier but exports from Germany, South Korea and Japan jumped 53 percent, 39 percent and 29 percent, respectively.
The report said that capturing an additional 1 percent of China's import market translates into US$12.3 billion in extra US exports and creation of more than 76,000 jobs for Americans.
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