China Offers U.S. $1 Trillion to Correct Trade Imbalance

 

via Bloomberg News:

China has offered to go on a six-year buying spree to ramp up imports from the U.S., in a move that would reconfigure the relationship between the world’s two largest economies, according to officials familiar with the negotiations.

By increasing goods imported from the U.S. by a combined value of more than $1 trillion over that period, China would seek to reduce its trade surplus — which last year stood at $323 billion — to zero by 2024.

[…]

The offer, made during talks in Beijing earlier this month, was met with skepticism by U.S. negotiators who nonetheless asked the Chinese to do even better, demanding that the imbalance be cleared in the next two years. (read more)

read the full article on Bloomberg News

 



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2 thoughts on “China Offers U.S. $1 Trillion to Correct Trade Imbalance

  1. Lana

    There’s only one reason Americans buy Chinese products: They are cheaper. They are also more cheaply made. Of course, Americans would buy American products if we could afford them, it isn’t that we love Chinese products.

  2. Lana

    What is behind their offer?

    If they bought more products from us, we would become more dependent on their markets, wouldn’t we? Do we really want to do that?

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