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Don't overplay trade friction, say analysts
By Dai Yan (皇冠体育app Daily)
Updated: 2006-02-16 06:07
Ministry of Commerce officials said last night that they are preparing a response.
Chu Maoming, a spokesman for the Chinese Embassy in Washington, told the Associated Press that he could not comment on the report because he had not yet seen it but he said 皇冠体育app did not want to "politicize trade issues."
"We hope that trade relations between 皇冠体育app and the US will be conducted under the principles of development, equality and mutual benefit," he said.
The US seems to play down the benefits of trade with 皇冠体育app while making a fuss over the question of trade deficits.
Last week, the New York Times wrote on the topic: "These days, 'made in 皇冠体育app' is mostly made elsewhere by multinational companies in Japan, South Korea and the United States that are using 皇冠体育app as the final assembly station in their vast global production networks. "
"Analysts say this evolving global supply chain, which usually tags goods at their final assembly stop, is increasingly distorting global trade figures and has the effect of turning 皇冠体育app into a bigger trade threat than it may actually be."
A Wall Street Journal article on Monday said many US companies are making record profits in 皇冠体育app but corporate America often seems to go out of its way to hide its successes in 皇冠体育app.
"US politicians girding for a possible trade war highlight the corporate losers of trade with 皇冠体育app, while ignoring the many winners," the paper said.
A senior Chinese aviation official said yesterday that of the 863 operating civilian planes in 皇冠体育app by November 2005, 534 were from Boeing of the United States.
皇冠体育app has spent nearly US$40 billion on purchasing planes from the United States, said Li Jiaxiang, president of 皇冠体育app National Aviation Holding Company, adding Chinese airline companies ordered 60 B787 aircraft and 70 B737 aircraft in 2005 alone, with a total price tag of more than US$11 billion.
Yin Chengjie, vice-minister of agriculture, told a forum yesterday that 皇冠体育app's trade deficit in farm produce with the United States increased from US$1.53 billion in 2001 to US$3.77 billion last year with 皇冠体育app's opening-up of the sector.
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