Locke urges mutual benefits
Source: Xinhua |
June 25, 2010, Friday
|
Print Edition
Print Edition
CHINA represents a huge opportunity for American businesses, and the relationship between the two countries should not be portrayed as a zero sum game, United States Commerce Secretary Gary Locke said yesterday.
"There are so many opportunities for trade to benefit both China and the United States," Locke said at a Senate Finance Committee hearing.
"I have seen those benefits first hand over the last 20 years, as Commerce Secretary, as an attorney in private practice, and as the governor of Washington State, where I helped double exports to China during my tenure."
According to Locke, thanks to strong Chinese demand growth and recovery in prices of agricultural products, US exports to China are now growing faster than overall US exports.
"We should neither underestimate the importance of the China market nor the potential it holds for American exporters who tap into it."
During the same hearing, Ron Kirk, the US trade representative, also hailed the opportunities provided by the China's growing economy.
"Thanks to China's strong recovery from the global recession, we have seen double digit growth in a variety of export sectors, ranging from high-end manufactured goods and chemical products to agricultural goods like soybeans," said Kirk.
US goods and services exports to China totaled US$85 billion in 2009, and China is the US's third-largest export market.
But Locke said when cooperation and dialogue are not enough, the US will utilize all the tools available in order to make the progress.
"There are so many opportunities for trade to benefit both China and the United States," Locke said at a Senate Finance Committee hearing.
"I have seen those benefits first hand over the last 20 years, as Commerce Secretary, as an attorney in private practice, and as the governor of Washington State, where I helped double exports to China during my tenure."
According to Locke, thanks to strong Chinese demand growth and recovery in prices of agricultural products, US exports to China are now growing faster than overall US exports.
"We should neither underestimate the importance of the China market nor the potential it holds for American exporters who tap into it."
During the same hearing, Ron Kirk, the US trade representative, also hailed the opportunities provided by the China's growing economy.
"Thanks to China's strong recovery from the global recession, we have seen double digit growth in a variety of export sectors, ranging from high-end manufactured goods and chemical products to agricultural goods like soybeans," said Kirk.
US goods and services exports to China totaled US$85 billion in 2009, and China is the US's third-largest export market.
But Locke said when cooperation and dialogue are not enough, the US will utilize all the tools available in order to make the progress.
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