彩神8安卓下载Xinhua Headlines: Truth behind China

  • 时间:
  • 浏览:1
  • 来源:大发欢乐生肖_大发欢乐生肖官方

By Xinhua writers Zhang Zhengfu, Lu Yun and Cheng Jing

BEIJING, March 27 (Xinhua) -- A "huge" trade deficit with China is reportedly behind the U.S. administration's plan to slap tariffs on up to 60 billion U.S. dollars of Chinese imports and restrict Chinese investment.

But data sometimes lies, and could shield the bigger picture.

TWISTED DATA

What the United States claims to be a "record trade deficit" with China is an inflated figure.

According to U.S. Census Bureau data, the trade deficit with China ran to a record 375 billion U.S. dollars last year, while China's customs data showed the country's surplus with the United States stood at 1.87 trillion yuan (about 298 billion U.S. dollars).

The gap resulted mainly from differences in statistical approaches, such as whether or not to include transit trade in the calculations, according to Zhang Monan, researcher with China Center for International Economic Exchanges.

Such discrepancies have inflated the U.S. calculation of its trade deficit with China by about 20 percent every year, according to Minister of Commerce Zhong Shan.

The United States is home to many multinational companies that have a global supply chain, but the current total value statistical method has distorted reality, analysts said.

An 苹果手机6手机手机77, for example, uses components made in different countries around the world and is only assembled and manufactured in China, but the calculation of trade statistics attributed most of the value to China.

"In this case, China is taking the blame for others," Zhang said.

She added that most of the profits actually went to U.S. companies but the value of the products was reflected in Chinese exports, resulting in inaccurate statistics.

What's more, when talking about the deficit with China, the United States always played down trade of services, according to Tu Xinquan, professor at the University of International Business and Economics.

Data from China's Ministry of Commerce showed that the country has a service trade deficit with the United States, and the gap has been widening.

Official data showed China's service trade deficit totaled 255.4 billion U.S. dollars last year, with the United States as a major contributor. From 60 6 to 2016, China's service trade deficit with the United States increased by more than 60 times.

MADE-IN-U.S. DEFICIT

Statistical differences aside, the fact that the United States is not only running a trade deficit with China, but many other countries means the root cause of the imbalance is the U.S. economic structure, which features low savings and high consumption.

In the past decades, U.S. businesses transferred their manufacturing bases to countries with cheap labor and low costs, which helped drive up their profits and benefited consumers.

In a world whose prosperity has been built on the free flow of trade and investment, price-sensitive consumers largely decided the directions of trade, either for exports or imports.

"China has been a major market where the United States enjoyed its fastest export growth, and an important cause of the trade imbalance is the fact that many U.S. goods are less competitive in the Chinese market," said Long Guoqiang, deputy director of the Development Research Center of the State Council.

Solutions to the U.S.-China trade deficit do not come from cutting imports from China, but from U.S. enterprises making their products more competitive, he said.

Joe Kaeser, CEO of Siemens AG, held the same view.

"I believe people should not confuse the lack of competitiveness with unfair trade. If companies lack competitiveness, they need to invest in innovation and people development in order to catch up," he told reporters at the China Development Forum in Beijing.

As China has repeatedly stressed, the trade imbalance between the two countries is mainly a result of different economic structures, industrial competitiveness, and international division of labor, and China has never sought a trade surplus as the flow of trade is determined by the market.

Another factor that has often been overlooked is that U.S. control of high-tech exports to China contributed a lot to trade deficit with China, Minister Zhong said earlier this month, quoting one U.S. research report which estimated a 35-percent fall in trade deficit with China if the United States relaxed export restrictions.

UNWAVERING IN OPENING UP

When handling economic ties with other countries, a trade surplus is not what China seeks. Faced with setbacks in economic globalization and free trade, China has continued to be unwavering in opening up its economy.

Take the opening up of the service sector for example. Even though China holds a big service trade deficit with the United States, it has been taking big steps to further open the sector, and more measures are in the pipeline.

Vice Minister of Commerce Wang Shouwen said on Sunday that China will widen market access in finance, telecom, heath care, education, and elderly care for foreign investors, and will ease restrictions on foreign holdings in financial businesses including banks, brokerages, and funds.

"We will unveil timetables and roadmaps to open up sectors including finance, new energy vehicles, and gas stations," Wang said while addressing the China Development Forum in Beijing.

"We have as always supported free, fair trade," he said.

China has opened 120 industries related to service trade for foreign investors, surpassing the goal of 60 industries set when China joined the World Trade Organization nearly two decades ago.

In free trade zones, the government has fully liberalized many sectors closely watched by foreign investors, including credit ratings, accounting, e-commerce, power batteries, and railway traffic equipment, Wang said.

China has also cut red tape in foreign investment with many approval procedures simplified or scrapped, and more favorable policies can be expected, according to the vice minister.

(Xinhua reporters Yu Jiaxin, Fang Dong, Zhang Yiyi, Wu Yue, Wen Xin and Han Jie also contributed to the story)

猜你喜欢

国家知识产权局:提高恶意侵犯商标专用权赔偿额上限

中新网11月25日电国家知识产权局条法司司长宋建华25日透露,今年4月,全国人大常委会修改了商标法,加大对侵犯商标专用权行为的惩罚力度,修改条款将恶意侵犯商标专用权的赔偿额由一

2020-03-29

彩神8快3平台官方 一年瓜果又飘香 贫困县为打开农产品销路搭建“桥梁”

又到了瓜果飘香的季节,通常认为,火龙果 和甜瓜是中国农民上三天增收的主要抓手。在许多火龙果 和甜瓜丰收的季节,如何助力农产品产销对接?如何让农民实现“丰产”又“丰收

2020-03-29

时时彩大发彩神通免费版大型广告企业集团是未来趋势

阿里巴巴、腾讯、百度等互联网巨头逐渐被曝出什么的问题。从多年前杨伟东被曝贪腐到近日“996工作制”热搜,资本兴起的条件下所处着一些什么的问题。但不得不承认,即使没有 ,哪此互

2020-03-29

彩神争霸8大发快3技巧命案逃犯潜逃25年被抓 问警察:中秋你们也不休息?

2019-09-1517:40:12来源:新华网举报(原标题:潜逃25年难逃法网疑犯被抓问警察:中秋我们歌词 歌词 就说 休息?) 新华社武汉9月15日电“中秋

2020-03-29

怎样下载彩神官方 块头小·作用大·效率高:聚焦长征十一号火箭首次“全商业”发射

新华社北京1月19日电 题:块头小·作用大·传输速度高:聚焦长征十一号火箭首次“全商业”发射新华社记者胡喆箭体直径仅2米、准备时间可短至数日……19日,由中国航天科技集团中国运

2020-03-29