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Measured in bulk, the United States’ top exports to China last year were agricultural products, transportation equipment, computers and electronics, chemicals, and machinery, but a deeper dive into specific products reveals a lot about America’s trade relationship with China. Most of the United States’ largest exports to China consist of crops or raw materials, but other higher-value products like vehicles and aircraft are also growing. Read more in China Business Review.
The 10 States Exporting the Most Goods to China
In 2012, the United States exported $108.6 billion worth of goods to China, making it the third-largest US export market, according to a recent report by the US-China Business Council. (USCBC is the publisher of the China Business Review.) China ranked as one of the top three export markets for 34 states, and 30 states exported more than $1 billion worth of goods to China. And since 2009—when US exports to China dipped slightly because of the global economic slowdown—12 states have doubled their exports to China.
The top 10 states exported $59.9 billion worth of goods to China in 2012, accounting for more than half of all US exports to China.
(Photo of the Port of Galveston by KM&G-Morris via Flickr)
Tomorrow’s cover today: the vision of China’s new president should serve his people, not a nationalist state.
(via cbrmagazine)
China watchers are beginning to raise questions about the accuracy China’s GDP numbers. In the first quarter of this year, all of China’s 31 provinces reported higher GDP growth than the nationwide number of 7.7 percent released by the central government. Read more in the Atlantic.
General Motors is planning to build four new assembly plants in China to increase its capacity there to 5 million vehicles annually, which is twice what it sold in the United States last year. Read more in Bloomberg.
Our new website is live! Take a look and let us know what you think: www.chinabusinessreview.com
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This is how jittery financial markets are, in one chart
The official Twitter account of the Associated Press was hacked, the AP reported, and the hacker tweeted out that there had been a White House explosion.
A new report released by the United Nations Office on Drugs and Crime shows that from 2008 to 2010, 67% of counterfeit goods were manufactured in China, and counterfeit goods account for about 2 percent of all world trade.
