China Trade Lei Jia

Major imports and exports Imported from the U.S.A. transportation equipment mechanical and electrical products plant products chemical product Export to the U.S.A. mechanical and electrical products furniture, toy, miscellaneous products Textiles and raw materials Base metals and metal products

Trade relation between China and U.S. U.S. goods and services trade with China totaled an estimated $659.4 billion in 2015. Exports were $161.6 billion; imports were $497.8 billion. The U.S. goods and services trade deficit with China was $336.2 billion in 2015. China is currently the U.S. largest goods trading partner with $598 billion in total (two way) goods trade during 2015. Goods exports totaled $116 billion; goods imports totaled $482 billion. The U.S. goods trade deficit with China was $366 billion in 2015. Trade in services with China (exports and imports) totaled an estimated $61.3 billion in 2015. Services exports were $45.4 billion; services imports were $15.9 billion. The U.S. services trade surplus with China was $29.5 billion in 2015. According to the Department of Commerce, U.S. exports of goods and services to China supported an estimated 251 thousand jobs in 2014 (latest data available) (678 thousand supported by goods exports and 273 thousand supported by services exports).

U.S. Export to China China was the United States' 3rd largest goods export market in 2015.   U.S. goods exports to China in 2015 were $116 billion, down 6.1% ($7.5 billion) from 2014 but up 182% from 2005. U.S. exports to China are up 506% from 2001 (pre-WTO accession). U.S. exports to China account for 7.7% of overall U.S. exports in 2015.   The top export categories (2-digit HS) in 2015 were: aircraft ($15 billion), electrical machinery ($13 billion), machinery ($12 billion), miscellaneous grain, seeds, fruit (soybeans) ($11 billion), and vehicles ($11 billion).   U.S. exports of agricultural products to China totaled $20 billion in 2015, our 2nd largest agricultural export market. Leading categories include: soybeans ($11 billion), coarse grains (ex. corn) ($2.1 billion), distillers grains ($1.6 billion), hides & skins ($1.3 billion), and cotton ($870 million).   U.S. exports of services to China were an estimated $45.4 billion in 2015, 7.0% ($3.0 billion) more than 2014, and 422% greater than 2005 levels. It was up roughly 791% from 2001 (pre-WTO accession). Based on 2014, leading services exports from the U.S. to China were in the travel, intellectual property (industrial processes), and transportation sectors.

U.S. Import from China China was the United States' largest supplier of goods imports in 2015.   U.S. goods imports from China totaled $482 billion in 2015, up 3.2% ($15 billion) from 2014, and up 98% from 2005. U.S. imports from are up 382% from 2000 (pre-WTO accession).   The top import categories (2-digit HS) in 2015 were: electrical machinery ($133 billion), machinery ($104 billion), furniture and bedding ($28 billion), toys and sports equipment ($24 billion), and footwear ($17 billion).   U.S. imports of agricultural products from China totaled $4.4 billion in 2015, our 3rd largest supplier of agricultural imports. Leading categories include: processed fruit & vegetables ($1.0 billion), fruit & vegetable juices ($321 million), snack foods ($208 million), fresh vegetables ($178 million), and spices ($159 million).   U.S. imports of services from China were an estimated $15.9 billion in 2015, 10.5% ($1.5 billion) more than 2014, and 132% greater than 2005 levels. It was up roughly 396% from 2001 (pre-WTO accession). Based on 2014, leading services imports from China to the U.S. were in the transportation, travel, and research and development sectors.

Trade Balance The U.S. goods trade deficit with China was $366 billion in 2015, a 6.6% increase ($23 billion) over 2014.   The United States has a services trade surplus of an estimated $30 billion with China in 2015, up 5.2% from 2014. https://ustr.gov/countries-regions/china-mongolia-taiwan/peoples-republic-china# https://obamawhitehouse.archives.gov/the-press-office/2016/09/04/fact-sheet-us-china- economic-relations

Investment U.S. foreign direct investment (FDI) in China (stock) was $65.8 billion in 2014 (latest data available), a 9.8% increase from 2013. U.S. direct investment in China is led by manufacturing, wholesale trade, and depository institutions.   China's FDI in the United States (stock) was $9.5 billion in 2014 (latest data available), up 12.0% from 2013. China's direct investment in the U.S. is led by depository institutions, manufacturing, and information services.   Sales of services in China by majority U.S.-owned affiliates were $43.3 billion in 2013 (latest data available), while sales of services in the United States by majority China-owned firms were $4.4 billion.

Who Would Win a US-China Trade War? https://www.youtube.com/watch?v=7PS9BCfO4bs

The Belt and Road The Silk Road Economic Belt and the 21st-century Maritime Silk Road, also known as The Belt and Road (abbreviated B&R), One Belt, One Road (abbreviated OBOR) or the Belt and Road Initiative is a development strategy and framework, proposed by Chinese paramount leader Xi Jinping that focuses on connectivity and cooperation among countries primarily between the People's Republic of China and the rest of Eurasia, which consists of two main components, the land-based "Silk Road Economic Belt" (SREB) and oceangoing "Maritime Silk Road" (MSR). The strategy underlines China's push to take a bigger role in global affairs, and its need for priority capacity cooperation in areas such as steel manufacturing.

Achievement of The belt and road in 2015 China contracted construction: more than 3,000 projects China invested into 49 countries directly in 2015 China carried on outsourcing contract from the belt and road countries: $ 17.83 billion. Had executed $12.15 billion

Asian Infrastructure Investment Bank The Asian Infrastructure Investment Bank (AIIB) is an international financial institution that aims to support the building of infrastructure in the Asia-Pacific region. The bank has 50 member states (all "Founding Members") and was proposed as an initiative by the government of China. The initiative gained support from 37 regional and 20 non-regional Prospective Founding Members (PFM), all of which have signed the Articles of Agreement that form the legal basis for the bank. The bank started operation after the agreement entered into force on 25 December 2015, after ratifications were received from 10 member states holding a total number of 50% of the initial subscriptions of the Authorized Capital Stock. Major economies that did not become PFM include the G7/G8 members' Japan and the United States, although Canada applied for membership on 23 September 2016. The United Nations has addressed the launch of AIIB as having potential for "scaling up financing for sustainable development" for the concern of global economic governance. The capital of the bank is $100 billion, equivalent to  2⁄3 of the capital of the Asian Development Bank and about half that of the World Bank The bank was proposed by China in 2013 and the initiative was launched at a ceremony in Beijing in October 2014.

Regional Comprehensive Economic Partnership Regional Comprehensive Economic Partnership (RCEP) is a proposed free trade agreement (FTA) between the ten member states of the Association of Southeast Asian Nations (ASEAN) (Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, Vietnam) and the six states with which ASEAN has existing free trade agreements (Australia, China, India, Japan, South Korea and New Zealand). RCEP negotiations were formally launched in November 2012 at the ASEAN Summit in Cambodia. RCEP is viewed as an alternative to the Trans-Pacific Partnership (TPP) trade agreement, which excludes China and India and includes several nations of the Americas. In 2016, prospective RCEP member states accounted for a population of 3.4 billion people with a total Gross Domestic Product (GDP) of $21.4 trillion, approximately 30 percent of the world's GDP.