U.S. Commerce Secretary Carlos Gutierrez has concluded a visit to China. During his two-day stay in Beijing, the secretary held talks with both senior Chinese officials and representatives of U.S. businesses in the country. What message has the secretary conveyed to them? And what about his perspective to bilateral trade in 2008?
CRI's reporter Luo Dan has the story.
U.S. Commerce Secretary Carlos Gutierrez addresses a luncheon sponsored by the American Chamber of Commerce in China and the U.S.-China Business Council March 15, 2008 in Beijing. [Photo: CRIENGLISH.com/Luo Dan]
Commerce Secretary Carlos Gutierrez is candid while addressing a luncheon attended by U.S. business people, saying his country's trade deficit with China could breed economic barrier and it will do no good to either side.
 "In both our countries, there has been a rise of economic nationalism. This is a troubling tread. It threatens the progress we've made in increasing commercial partnerships-partnerships that benefit our citizens and our economies"
In 2007, China overtook Japan as the largest export market outside of the U.S.'s North American Free Trade Agreement partners. The Asian country also displaced Canada as the U.S.'s largest source of imports. Gutierrez says that's already proved the importance of sound bilateral economic relationship.
The secretary's visit came after U.S.-China trade deficit dropped slightly for the first time in March. Gutierrez says that is a good sign but not enough to address the overall deficit of 256 billion US dollars. He proposes more U.S. exports.
"The products that we are exporting more and more are medical devices, high-technology manufacturing equipment, aircrafts, agricultural equipment.-those kinds of valued added goods. The other thing is we also exports agricultural products. 30 percent of what we produce in agriculture is for exports, although most of our exports are manufacturing."
When answering a question from CRI about tourism, Gutierrez indicates a new agreement signed between the two countries a few months ago may provide fresh incentive to address trade imbalance.
"You mentioned tourism, which is interesting because we, as a country, has at least 8 billion dollars surplus in tourism. But we have a trade deficit with China when it comes to tourism. So this tourism MOU is very important, because it will allow China groups to go to the US and that will also help."
The first group of Chinese tourists will be arriving in the United States in June.
|
