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US biggest buyer of Chinese exports


The United States surpassed the European Union in the first 11 months of 2012 to become the largest buyer of Chinese exports, according to data released by the Ministry of Commerce on Tuesday.The value of US trade with China increased by 8.2 percent year-on-year to reach US$438.62 billion, according to the ministry.



At the same time, China's exports to the US increased by 8.2 percent to US$319.4 billion, and its imports from the US went up by 8.1 percent to US$119.2 billion.

China's trade surplus with the US has also increased in the year, going from US$148.3 billion in the first nine months to US$200.3 billion in the first 11 months.

The EU, for its part, saw its trade with China decline.

In the first 11 months of the year, its trade with China decreased by 4.1 percent year-on-year, and its imports from China dropped to US$302.3 billion.

Japan's trade with China also dropped by 2.9 percent year-on-year during the period.

Even so, China's total foreign trade was up in the first 11 months of the year, increasing by 5.8 percent to US$3.5 trillion, although that rate of increase was far below the goal of 10 percent set at the beginning of the year.

And trade with the US has not been as vigorous in recent months as it was earlier in the year.

The past two months have seen it slow below the 9.1 percent year-on-year rate of increase it showed in the first nine months.

Zhou Shijian, a senior trade expert at Tsinghua University, blamed the slower trade on the US' sluggish economic recovery.

The US economy grew by 2.7 percent in the third quarter of the year. Yet many expect the rate to be slower in the fourth quarter, as the country braces itself for going over the "fiscal cliff", a combination of deep cuts in government spending and tax increases that are scheduled go into effect early next year.

"US consumers see an uncertain economic future and are tightening their purse strings," Zhou said.

Even so, he said, the US is doing much better than the EU or Japan.

Zhou forecast that trade between China and the US will continue to increase next year, saying the US economy is recovering, though at a slow rate.

Wang Li, a researcher with the Ministry of Commerce's International Trade and Economic Cooperation Institute, said US controls on technology exports remain an obstacle to trade with China.

During a meeting last week of the China-US Joint Commission on Commerce and Trade, the US pledged to respond to China's concerns about fair treatment for direct investments in the US, controls on technology exports and various visa matters.

In the first 11 months of 2012, US' actual investment in China increased by 11.6 percent from a year earlier to hit US$2.4 billion.

During the same period, China approved the establishment of 1,180 US-funded companies, down 8.9 percent year-on-year. By the end of November, the cumulative direct investment from the US had reached US$70 billion.

China remains a small investor in the US, having put US$8.6 billion worth of investment into the country by November.

Source




http://www.china.org.cn/business/2012-12/27/content_27527041.htm


Added: Dec-27-2012 Occurred On: Dec-27-2012
By: TMD
In:
World News
Tags: USA, China, Export, EU
Location: United States (load item map)
Views: 854 | Comments: 99 | Votes: 0 | Favorites: 0 | Shared: 0 | Updates: 0 | Times used in channels: 2
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  • Comment of user 'LSDforuandme' has been deleted by author (after account deletion)!
  • More Americans are buying chinese products not just because they are cheaper but it is increasingly more difficult to find US product in stores.

    Posted Dec-27-2012 By 

    (3) | Report

  • It's not the fault of the Chinese. We want our shit cheap.

    Posted Dec-27-2012 By 

    (3) | Report

    • @StackOverflow
      And you get what you pay for "cheap".

      Posted Dec-27-2012 By 

      (1) | Report

    • @StackOverflow The bad on the Chinese is thinking we are going to make good on our debts. We are going to be defaulting on a lot of that debt, one way or another. Either that, or they are going to own everything of value in our country.

      Posted Dec-27-2012 By 

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    • @StackOverflow ...we may want it cheap but if it don't work - we don't want it. I refuse to go into Walmart now. Chinese products ARE the crappiest junk around!

      Posted Dec-27-2012 By 

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    • Comment of user 'TMD' has been deleted by author (after account deletion)!
    • @StackOverflow And riddled with toxins! Its going to bite them in the ass. They dont get what an EPA is, or lung cancer.

      Posted Dec-27-2012 By 

      (0) | Report

  • Next Stop, Stock Market Crash.

    Posted Dec-27-2012 By 

    (2) | Report

  • Typical Americans. Willing to cut the throats of domestic products to save a quick dollar. Buy 12 one-dollar staplers, made in China, that break in a month instead of buying one 12 dollar stapler made in USA that lasts a generation.

    Posted Dec-27-2012 By 

    (2) | Report

  • Comment of user 'Traci Sutherland-Gibbs' has been deleted by author (after account deletion)!
  • Read the labels and avoid China products.

    Posted Dec-27-2012 By 

    (1) | Report

    • @Captain_Obvious

      That's easier said than done since like everything comes from China.

      Posted Dec-27-2012 By 

      (4) | Report

    • @Sad Trombone No, it doesn't.

      Posted Dec-27-2012 By 

      (-1) | Report

    • @Captain_Obvious The problem is unless we all abide by your suggestion, the people avoiding Chinese products will get ripped off by the people who take advantage of the bargains. It is like the Prisoners' Dilemma. Both can walk if neither rats the other one out, but the one who rats first gets out while the other gets fucked. So, everyone races to be the first rat. Same principle with the Chinese products.

      Posted Dec-27-2012 By 

      (0) | Report

    • Comment of user 'TMD' has been deleted by author (after account deletion)!
    • @onepercent

      Can you be more vague next time? There's just too much info to read all at once.

      Posted Dec-27-2012 By 

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  • We gotta keep buying their stuff so they can keep loaning our government money, so our government can keep giving money away to people who produce nothing.

    Posted Dec-27-2012 By 

    (1) | Report

    • @Kmanbay
      Preach man preach
      its the only way we can keep the US Dollar the World currency.

      Sadly they will replace it soon and it will only be used here at home.

      The next currency and the next Citizen are of the World and backed by Gold

      theLAB

      Posted Dec-28-2012 By 

      (1) | Report

    • @theLAB
      Oil keeps it the reserve currency.

      Posted Dec-28-2012 By 

      (0) | Report

    • @theLAB
      What?
      Huh?
      Well, Okay.
      Your in for a big surprise LAB.

      Posted Dec-28-2012 By 

      (0) | Report

    • @UNDERDOG
      We shall see
      theLAB

      Posted Dec-28-2012 By 

      (0) | Report

    • @UNDERDOG
      BTW
      More people in America today get a Government Check then a Private Sector Pay Check.

      Now as a foreign nation please do the math and consider loaning, buying, us dollars/debate

      wake the fuck up my man
      theLAB

      Posted Dec-28-2012 By 

      (0) | Report

  • the article says the USA is doing better than japan and europe... its one big problem that is effecting all of the developed countries. nobody is doing better than anyone else its an international market and that is the problem, the internationals that run the show have no patriotism for any country. they move the factories where the labor is cheap. take amazon and starbucks all the profits they make in the uk they put them in the Irish company and all the debts they move them to their uk compa More..

    Posted Dec-27-2012 By 

    (1) | Report

  • Comment of user 'SlipperyWhenWet' has been deleted by author (after account deletion)!
    • @SlipperyWhenWet

      Charlotte Iserbyt worked in the Department of Education during the Reagan years. As a result, she published "The Deliberate Dumbing Down of America", which mainly consists of documentation supporting her conclusion.

      The competitiveness was driven out of school, so there is little push to excel. Ask any teacher and they'll tell you that advance classes are equivalent to what was once the norm. Policies have made it so that it is almost impossible to fail a grade More..

      Posted Dec-27-2012 By 

      (1) | Report

  • Eh... People are very confused. America has consistently been in much better shape than Europe and other countries, throughout the global recession. China is an economic partner and they need us more than we need them. They buy some of our debt, because they need the status quo. They need us to keep buying their slave-labor exports. We can just as easily buy the same products from any number of countries in South America.

    Posted Dec-27-2012 By 

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    • Comment of user 'TMD' has been deleted by author (after account deletion)!
    • @TMD Nonsense.

      Posted Dec-27-2012 By 

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    • @TMD
      Add the fact
      Most New Limited Edition Runs for the Auto Industry are now exclusive to China.

      Do the research its fkkkin freaky
      theLAB

      Posted Dec-28-2012 By 

      (0) | Report

    • Comment of user 'TMD' has been deleted by author (after account deletion)!
    • Comment of user 'TMD' has been deleted by author (after account deletion)!
  • Comment of user 'Leeky_Deeky' has been deleted by author (after account deletion)!
  • Fuck China and the US Family that Adopted them
    the Waltons
    theLAB

    Posted Dec-28-2012 By 

    (0) | Report

  • Rolls Royce foresees China as it's biggest customer in the coming decade.

    Jokes on China though, the US dollar is Federal Reserve Inc. funny money... worth about 7 cents on the dollar.

    Posted Dec-28-2012 By 

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  • So we got their stuff, and now we owe them more than we can pay.

    I say, tell them we aren't paying.

    Posted Dec-27-2012 By 

    (0) | Report

  • Not me. Maybe Obama supporters

    Posted Dec-28-2012 By 

    (0) | Report

  • The Federal Reserve Cartel members wish to thank all America for being the very best darn managable resource Any O' Bunch of Rich Ass Sheep Herders could ever ask for!
    Keep up the Good work!
    Baaaa.

    Posted Dec-28-2012 By 

    (0) | Report

  • A lot of people thing China is our biggest trading partner, but they are wrong, it is Canada.

    http://www.census.gov/foreign-trade/balance/c1220.html

    You may win a bar bet with this one !

    January through October 2012.

    Exports Imports Balance
    TOTAL 2012 245,215.4 270,769.0 -25,553.6

    Posted Dec-28-2012 By 

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    • @mothkiller Canadians buy U.S. products in return,China does not buy U.S. products, it's all exports to the U.S.. not trade at all.

      Posted Dec-28-2012 By 

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    • Comment of user 'TMD' has been deleted by author (after account deletion)!
    • @TMD None of the cars sold in China are made in the U.S., regardless what manufacturer nameplate.Not really trade and i am sure the biggest car markets have the most manufacturers too.

      Posted Dec-28-2012 By 

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    • Comment of user 'TMD' has been deleted by author (after account deletion)!
  • I dont even look at where the stuff i buy is made, if they put a big ass sticker on the item that says Made In USA i would gladly buy rather than something made in china.

    Posted Dec-27-2012 By 

    (0) | Report

  • And we're supporting such a worthwhile regime. Our money helps put Americans on public assistance, and generally degrade the people and economy as a whole while subsidizing a communist nation which continues to build itself militarily.

    You suppose if we were to enter a war with them they'd be nice enough to continue to supply our steel?

    Posted Dec-27-2012 By 

    (0) | Report

  • Yeah thanks for stealing our patents....and making our shit at cheap slave labor costs. Ni Hao fuckers.

    Posted Dec-27-2012 By 

    (0) | Report

    • Comment of user 'SlipperyWhenWet' has been deleted by author (after account deletion)!
    • @SlipperyWhenWet

      Even the space program in the US has to follow the principles of 'free market' to the core.

      Posted Dec-27-2012 By 

      (0) | Report

    • Comment of user 'SlipperyWhenWet' has been deleted by author (after account deletion)!
    • @SlipperyWhenWet

      I was referring to the huge NASA budget cuts and retired shuttles etc., and also the privatization of the industry (SpaceX & Co.).

      I think it's hardly a good thing that the government is stepping aside.

      Posted Dec-27-2012 By 

      (0) | Report

    • Comment of user 'TMD' has been deleted by author (after account deletion)!
  • China also prints The Onion as headlines.

    Posted Dec-27-2012 By 

    (0) | Report

  • Americans love to complain about this yet we keep buying their junk.

    Posted Dec-27-2012 By 

    (0) | Report

    • @-stile-
      you point out a point by the minority and try to apply it to the majority

      Flawed math
      theLAB

      Posted Dec-28-2012 By 

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    • @theLAB

      Huh?

      The majority of American complain about cheap Chinese products, yet the majority of Americans continue to buy them.

      You have a flawed understanding.

      Posted Dec-28-2012 By 

      (0) | Report

    • @-stile-
      I feel the true minority is really the only true voice on the topic, however I can only agree and push the fact that the majority line up for it at the Waltons yard
      theLAB

      Posted Dec-28-2012 By 

      (0) | Report

    • @-stile-
      Try to buy an American made TV, cell phone, DVD player, anything metal, car, furniture, computer, clothing.

      See my point?

      Posted Dec-28-2012 By 

      (1) | Report

    • @RogerTheShrubber

      What about other items? Not everything is made in China.

      See my point?

      Posted Dec-28-2012 By 

      (0) | Report

  • and thank you china for paying your citizens .50 cents an hour to make all our shit. who do you really think the biggest loser is in this trade-off?

    Posted Dec-27-2012 By 

    (0) | Report

    • Comment of user 'TMD' has been deleted by author (after account deletion)!