1. The US-China Economic Relationship
2.0
Stealable Slides:
Use them any way you like

2. The World’s Two Biggest Economies
Economy Rank
No. 2
GDP (April 2018)
$ trillions
$ trillions
Growth Rate (2018 est.)
2.9%
6.6%
GDP/Capita (2018 est.)
$ 62,150
$ 10,900
Population
327~ millions
1.4~ billions
Population Rank
No. 3
No. 1
Area (sq km)
9.83 millions
9.60 millions
Source: IMF; Statisticstimes

3. 2017 Record Trade Deficit Deficit Major US exports to China
$500 billion
■ Imports of Chinese goods
400
■ Exports of US goods to China
300
Deficit
2017 Trade Deficit
-$375.22bn
*Highest on record
200
100
1990
1995
2000
2005
2010
2015
2017
Source:
Major US exports to China
Airplanes
Soy beans
Cars
Electronics, equipment and machines
Semiconductors
Major Chinese exports to US
Cellphones and household goods, n.e.c.
Computers
Telcomm. equipment
Computer accessories

4. Chinese FDI in US surging, but facing restrictions
Major Chinese purchases in US in past 2 years
HNA ► CIT’s aircraft leasing unit
HNA ► Hilton Hotels
HNA ► Ingram Micro
Qingdao Haier ► General Electric appliances business
Anbang ► Strategic Hotels properties
Apex Technology ► Lexmark
Wanda ► Legendary Entertainment
Major Chinese deals blocked in 2017
Canyon Bridge Capital Partners ► Lattice Semiconductor
Orient Hontai Capital ► AppLovin
China Zhongwang Holdings ► Aleris
$10 billion
$1.3 billion
$6.5 billion
$1.4 billion
$6 billion
$2.3 billion
Major Chinese deals blocked in 2018
Broadcom ► Qualcomm
Ant Financial ► MoneyGram
HNA ► Skybridge Financial*
$5.6 billion
$5.5 billion
$117 billion
$3.6 billion
$1.2 billion
$3.5 billion
$180 million
Source: Rhodium Group, New York Times

5. Love-hate relationship, but an important one
96%
Not Important
Extremely important
43%
Somewhat important
18%
Very important
35%
How important are positive bilateral relations between China and US to your business growth in China (2017)
Source: AmCham China Business Climate Survey 2018
US views of China
Favorable
Unfavorable
Chinese views about the US
Favorable
Unfavorable
Source: Pew Research Center

6. Recent Developments 2017-2018 Q1
March 2018
Trump directs Administration to take actions responding to China’s acts, policies, and practices involving harmful acquisition of U.S. technology
January 2018
Trump announces steel and aluminum trade tariffs for China
July 2017
First U.S.-China Comprehensive Economic Dialogue ends with no press conference or joint statement
December 2017
U.S. labels China a “revisionist power” when releasing National Security Strategy
Recent Developments Q1
July 2017
Conclusion of 10-point “Early Harvest,” including re-introduction of U.S. beef to the Chinese market
November 2017
China announces various measures opening financial and new energy vehicle sectors
August 2017
U.S. initiates “Section 301” investigation of Chinese theft of intellectual property
November 2017
Xi hosts Trump for state visit - $250 billion of “deals” signed
October 2017
U.S. imposes anti-dumping duties on Chinese aluminum foil

7. Thank you!