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The trade imbalance between China and the United States should beattributed to US industrial structural problems and internationaltrade transfers, rather than China and its currency policy, saidZhou Shijian, a senior trade expert and a professor at TsinghuaUniversity. The US should loosen its curbs on high-tech exports to China assoon as possible, and take action as it has pledged, said Zhou. Zhou's remarks came ahead of the fourth round of the China-USStrategic and Economic Dialogue which is due to be held fromThursday to Friday in Beijing. Issues including the US tradedeficit with China and China's currency policies will be discussed,said experts. "The US has no reason to blame China (for the deficit), as it has atrade deficit with more than 90 nations worldwide and the deficitis a common, long-term and structural problem," said Zhou. Resource-related products, labor-intensive goods and industriesthat the US does not enjoy strong competitiveness all contribute tothe US trade deficit, he said. In 2011, China's exports to the US rose 14.5 percent to $324.5billion, and imports surged by 19.6 percent to $122.2 billion,leaving a trade surplus of $202.3 billion, compared with theoverall US deficit of over $730 billion in 2010. Despite the deficit, US exports to China have been expanding at anextraordinary pace during the past decade. In 2000, US shipments to China were worth $16.25 billion, but thefigure grew by more than 500 percent and shot up to $103.9 billionin 2011. But comparatively, US exports to Japan, the third-largesteconomy worldwide, grew by merely 1.4 percent during the sameperiod. "China is a big contributor to US exports," said Zhou. Erin Ennis, vice-president of the US-China Business Council, whichrepresents about 240 US companies doing business in China, said inMarch that China is vital to US economic health as it imports a lotfrom the US and creates jobs for US workers. The US has repeatedly requested China to allow its currency toappreciate further and faster to narrow the deficit, but expertssaid the appreciation of the yuan cannot resolve the problem. WhileChinese export growth slows and the ratio of the nation's tradesurplus to GDP shrinks, the appreciation of the yuan willdecelerate and there is not much room for the yuan to rise, saidexperts. China's current account surplus has shrunk from more than 10percent of GDP in 2007 to 2.8 percent in 2011. Premier Wen Jiabao said in March the yuan may be near "equilibrium"and policymakers will allow greater exchange rate volatility. Chinahas allowed yuan to weaken 0.2 percent this year against thedollar, following 2011's 4.7 percent gain in the currency. Exports curb According to Zhou, who is a senior researcher on China-US economicand trade issues, the US deficit with China started in the early1990s, when the US began to tighten the screws on its high-techexports to China. "I have to say the right and efficient way to resolve the tradeimbalance would be the if the US manages to loosen therestrictions," said Zhou. "If the country did that, there is a highpossibility that the US will narrow its trade deficit with China." Recent signals seem to show that the US aims to make some changeson the issue. But for Zhou, these are just empty words. In late March, US Ambassador to China Gary Locke said during afunction to commemorate the 40th anniversary of the ShanghaiCommunique that the US will allow 46 of the 141 high-tech itemsrequested by China to enter the Chinese market, and some may notneed a license. And he added that the US embassy will bring adelegation of US companies to China to meet Chinese companiesinterested in purchasing these goods. But Zhou pointed out that Locke's words do not mean the US wouldlike to make substantial efforts on the matter. "The 46 items are comparatively low-end goods, and the high-techgoods are still not allowed to be exported to China. More thanthat, the US will examine them (the 46 items) case by case," hesaid. I am an expert from goodhlx.com, while we provides the quality product, such as Breath Alcohol Tester , Breathalyzer Mouthpieces, Breath Alcohol Tester,and more.
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