Sino-US
Trade to Break US $90 Billion in 2002
Sino-US trade will soon reach US $92
billion, an increase of at least US $10 billion over 2001. The
latest report from the research academy under the Ministry of
Foreign Trade and Economic Cooperation shows that by 2005, the
United States will surpass Japan to become China's largest trade
partner.
According to Qiu Xiaohua, deputy director
of the State Statistical Bureau, Sino-US trade has had great
impact on the Chinese economy, and has increased China's GDP
by 0.2 percent. The state of the American economy is also a
major influence on Sino-US trade. One scholar calculates that
a single percentage point increase in the American economy increases
China's exports to the US by 10 percentage points.
