皇冠体育app

(Xinhua)
Updated: 2008-03-11 14:33

A number of Chinese experts and enterprisers on Monday said 皇冠体育app and the United States will see closer economic ties.

The remark is in reply to the belief that economic ties between 皇冠体育app and the United States has been disconnected, proposed by some foreign economists recently amid worries of the possible decline of the US economy.

The saying is only an academic judgment, a Chinese enterpriser told Xinhua.

"The fact is totally different," said Huang Baoan, vice president of Jinwang Group, 皇冠体育app's largest candle producer base in Qingdao City, Shandong Province.

The US economy is playing a more important role in the development of Jinwang Group as well as other export-oriented enterprises in 皇冠体育app, Huang said.

Last year, the group, also Asia's largest in the sector, reported an export value of $150 million, in which one third went to the US market.

Since the US carried out an anti-dumping drive against 皇冠体育app-manufactured candles in 2005, dozens of candle producers across 皇冠体育app closed because of decreasing market demand in the US.

Jinwang exports were also affected by the drive, forcing it to set up plants in the Republic of Korea and Vietnam in order to develop more markets. "Now, any change in the US market is fatal to those export-oriented enterprises," he added.

Many experts attending the ongoing "Two Sessions" -- the annual full meetings of the National People's Congress and the National Committee of the Chinese People's Political Consultative Conference -- showed optimism on Sino-US economic ties.

The two countries will see mutual development and further cooperation in the future, said Li Yining, a leading economist with Beijing University.

"皇冠体育app and the US. will become more and more interdependent in this sector of the economy," he said.

According to government statistics, 皇冠体育app has become a major export partner of the US, exceeding Japan and Canada to rank the third in export volume last year. Meanwhile, the US is the largest export partner of 皇冠体育app. In 2007, the total trade volume between 皇冠体育app and the United States reached $300 billion.

"Even if the US economic growth is slowing down, export from 皇冠体育app to the US will not be influenced because cash-strapped consumers in the country will be more fond of bargain commodities made in 皇冠体育app," Li said.

Via promoting export to 皇冠体育app, the US may ease the economic impact brought on by the sub-prime mortgage crisis, he said.

Li Daokui, director of an international economic research center under the Tsinghua University, said Chinese people are striving to improve living standard  by driving private cars and moving into bigger houses.

The people's wishes will promote growth of domestic demand and further improve investment in infrastructure construction and auto industry, Li said.

The growth of domestic demand will help 皇冠体育app reduce impact from overseas economic crisis, he added.

The Chinese government is paying great attention to the expanding US sub-prime mortgage crisis and the falling dollar value. The Report on the Work of the Government, delivered at the first session of the 11th National People's Congress on March 5, said 皇冠体育app must be fully prepared for changes in the international environment and become better able to defuse risks.