The U.S. Congress also must combat these practices with legislation that will limit China's access to the U.S. market unless China starts playing by the rules. Only then will China come to the negotiating table ready to address the problems plaguing the U.S.-China trading relationship."
Highlights from the file include:
Page 3 -- China Economic Growth and Impact of U.S. Trade Deficits
• An estimated 1 million U.S. jobs and job opportunities have been lost as a result of the exploding U.S. trade deficit with China since 2000. Those estimates then are broken down on a state-by-state basis.
Page 4 -- China Overtakes United States in Global Manufacturing Exports
• In 2006, for the first time in modern history, the value of Chinese exports of manufactured goods exceeded the value of U.S. exports of manufactured goods. China repeated this in 2007.
Pages 5 & 6 -- United States Runs Massive Trade Deficit with China in Advanced Technology Products (ATP)
• The U.S. trade deficit with China in Advanced Technology Products (ATP) approached $70 billion in 2007.
• The U.S. government's ATP list is not static, but dynamic. It changes on a regular basis to reflect growth in technological innovation.
• Even after including U.S. surpluses with China as a result intellectual property royalties and fess and in trade in high-tech services
Page 7 – China's Trade Surplus in Manufactured Goods Projected to Exceed $500 Billion in 2008
• In 2008, China is projected to run a trade surplus with the world in manufactured goods in excess of $500 billion.
Click here to view information compiled by Dr. Charles McMillion, President and Chief Economist of MBG Information Services:
American Manufacturing Trade Action Coalition
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