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China Is the 3rd Largest Destination for U.S. High-Tech
Exports, | ||
|
Washington, DC (May 20, 2008) – AeA, the
nation’s largest high-tech trade association representing all segments of the
high-tech industry, today released the 23rd edition of its ongoing
Competitiveness Series. The report analyzes the strong economic relationship
between the United States and China in terms of high-tech trade and foreign
direct investment. “China’s economic rise poses not a threat but a host of opportunities and challenges to the rest of the world,” said Rob Mulligan, AeA’s Senior Vice President International. “Public policy in both the United States and China must recognize the interdependent nature of our economies and avoid protectionism and distorting trade practices. Such policies restrain trade, damage economies, and raise prices for consumers.” U.S. high-tech goods exports to China more than doubled between 2001 and 2007. This makes China the third fastest growing and the third largest destination for U.S. high-tech exports. Only the United States’ two NAFTA partners, Canada and Mexico, are larger export destinations for American tech products than China. Between 2001 and 2007, U.S. high-tech goods imports from China rose from $26 billion to $112 billion. Total U.S. direct investment in China was $22.2 billion in 2006, a 30 percent increase over 2005. In 2006, U.S. technology investments in China totaled $1.9 billion, a 69 percent rise over 2005. "As China seeks to become a global leader in technological innovation,” continued Mulligan, “it will need to move away from policies promoting discriminatory local standards, domestic government procurement preferences, and protectionist competition laws." The report outlines a series of public policy recommendations for dealing with China as a rising economic power. All editions of the AeA Competitiveness Series can be downloaded for free at: www.aeanet.org/cs. - # # # -
About AeA This page was last updated on
05/20/08.
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