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China's investment in the US benefits both

By Carla A. Hills ( China Daily ) Updated: 2012-12-19 08:09:36

Leaders of the United States and China have repeatedly stated that the bilateral relationship between the world's two largest economies will shape the 21st century. When Vice-President Xi Jinping visited Washington D.C. in February, he was quoted as saying that the economic relationship between the two nations constitutes the "ballast and propeller" for bilateral ties.

The opportunities for the two countries to interact economically are substantial. Since China joined the World Trade Organization a little more than a decade ago, it has opened to the outside world and as a result has become the world's second-largest economy and its largest exporter. During that period US exports to China have increased more than 500 percent, by far the fastest export growth the US has experienced with any of its trading partners, and the benefits have been felt nationwide. Forty-eight states report that their exports to China have tripled in that period.

As a result of its market openings, China has also become the world's second-largest recipient, behind the US, of foreign direct investment. China benefits substantially from US investment in China which today is more than $60 billion. US investors in China also benefit. A majority of US companies responding to a 2011 survey conducted by the US China Business Council reported double digit revenue growth for the year.

China's investment in the US benefits both

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