In a globalised world today trade surplus does not necessarily mean trade benefits Yao said
In a globalised world today, trade surplus does not necessarily mean trade benefits,” Yao said, pointing out that China mainly exports labor-intensive products.”China is trying to promote trade balance. Growth predicated on ever increasing Chinese exports being consumed by debt-laden Americans provided years of prosperity — but it also sowed some of the seeds for our current economic problems.”The United States is China’s second-largest trade partner after the European Union, and accounts for 18 percent of China’s total exports and imports.”There do exist some issues in our bilateral trade relations, including cooperation on high-tech products,” Chinese commerce ministry spokesman Yao Jian told a press conference on Wednesday.China’s big surplus in its trade with the United States has become a global concern, he said.”Of course, it’s a separate issue as how to interpret the trade surplus. industry can find opportunities in China.”For all our areas of agreement, the United States and China’s trade relationship has to evolve. There are concerns and deep structural issues that must be addressed,” Locke said.”Chief among them is a bilateral trade imbalance that simply can’t be sustained. Barack Obama | ChinaChina should shift from export-led growth, increase its exchange rate flexibility, and open its markets more, Locke said in remarks prepared for a speech to the American Chamber of Commerce.Locke, who will visit Beijing and Shanghai, plans to promote clean energy technology as one area in which U.S.
[ID:nL1598690] This comesafter failing to obtain a banking licence which would haveenabled it to finance itself more cheaply through retail savingsdeposits rather than expensive wholesale funding. Cattles said it had entered into further agreements andfacility amendments with all its bank lenders to try andstabilise the financial position of its units.(Reporting by Lorraine Turner; Editing by Simon Jessop). BEIJING (Reuters) – The trade imbalance between the United States and China is not sustainable, and the two countries have a joint responsibility to reduce greenhouse gas emissions, U.S Commerce Secretary Gary Locke said on Wednesday. The company, whose shares were suspended in April, said onWednesday it remains in talks with financial creditors to reacha formal standstill agreement. Cattles was hit by accounting problems earlier this yearwhich led to a recent management cull.
* Says extends loan maturity until end-Dec * Remains in talks to reach formal standstill agreement (Adds details) LONDON, July 15 (Reuters) – Troubled British sub-primelender Cattles (CTT.L) said it has extended the maturity of its500 million pound banking facilities, which expired on Tuesday,until the end of the year. last Decemberand Chinese fans have anxiously been awaiting the return tocompetition of their top track and field athlete. “Liu will take part in the National Games in October and itwill be a warm-up for the Asian Championships in November,” Sunadded on the sports.cn website. The 11th China National Games take place in Jinan from Oct.11-23, while the Asian championships are in Guangzhou from Nov.10-14.