U.S. has an obligation to current and future American generations to get U.S.-China commercial relationship right, but that will require us to focus on the real issues, according to the report released by the U.S.-China Business Council (USCBC) on Jan. 23.
"America has a great opportunity to build a constructive relationship with China that will benefit our economy and our businesses, workers and farmers across the nation," said John Frisbie, president of the council, which represents some 240 U.S. companies that operate in China.
"China is the United States' third-largest export market, behind only Canada and Mexico, our closest neighbors. China is an important market for many U.S. companies and workers, but many Americans are unaware of the facts about America's commercial relationship with China," said John Frisbie.
Leading up to November's presidential election, Republican challenger Mitt Romney repeatedly vowed to label China a currency manipulator if elected, but the USCBC report said the dollar-yuan exchange rate doesn't significantly affect U.S. employment or the country's long-standing trade deficit with China. "Some lawmakers on Capitol Hill have made China's currency value the sole focus of attention, despite the fact that it has appreciated more than 30 percent against the U.S. dollar since 2005," Frisbie said.
The U.S.-China Business Council is the leading organization of U.S. companies engaged in business with the China. Founded in 1973, USCBC provides extensive non-partisan China-focused information, advisory, program, and advocacy services to roughly 240 U.S. corporations.
Read the Chinese version: 美中贸易全国委员会呼吁 推动互利共赢的贸易政策
Source: People's Daily; Author: Wu Chenggang
Report on the rich in China released
Sales boosting measures for Spring Festival
1st express sleeper train starts operation
Top 10 most transparent multinational companies
Top Ten Economic Events in 2012
Beijing leads nation on rich list