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Chinese textile products do not present a threat

www.chinanews.cn 2005-01-17 14:11:34

Chinanews, Jan. 16 - At the third Sino-US roundtable conference on
intellectual property rights (IPR) that was recently concluded, Commerce
Minister Bo Xilai expressed China's opposition to the way the Americans
were dealing with the twelve applications that the US textile industry
had raised against China's textile exports. Bo said that China required
the United States to reasonably deal with and solve this problem.
He pointed out at the same time that frictions and disputes in Sino-US
trade should be treated appropriately from a developmental perspective.
He predicted that there would be greater progress in Sino-US economic and
trade ties in the following four years.
Bo said that Chinese textile exports to the US in 2004 were only slightly
more than 10 billion US dollars, which represented only a small part of
the total volume of imports in the US. Thus Chinese textile exports would
present no threat to the US market. US restrictions against Chinese
textile products violated the trade principles that had been established
in the US. Thus it was justified for China's textile industry to be
dissatisfied with the American decision.
With respect to the Sino-US trade gap, Bo acknowledged that China had
gained a surplus in its trade with the US, but it was not as big as the
figures that were presented by the US. There was a major difference in
the ways in which both countries arrived at their statistical figures. At
the same time, American exports to China had grown dramatically in recent
years. Last year, it grew by 32%, and was significantly higher that
American exports to any other country. This rapid growth is expected to
last for several years. China mainly exported products to the US, whereas
the US, in addition to its product exports, was setting up companies in
China to manufacture and sell their products, thereby fueling US exports
by means of capital output. In this sense, the two sides had balanced out
their market share in each other's country.
According to China's statistics, Sino-US trade totaled 169.6 billion US
dollars in 2004. China's export value to the US was 124.9 billion US
dollars, an increase of 35% year on year. Its import from the US totaled
44.7 billion US dollars, an increase of 32% year on year. There were
altogether more than 40,000 US-funded projects in China, with an actual
investment of nearly 47 billion US dollars.
With regards to China's market economy status, Bo hoped that the problem
could be solved as soon as possible. It would benefit the economies of
both China and the US.

E-mail: zhangqinghua@chinanews.com.cn Tel: 8610-88387443 Fax:
8610-68327649

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