Imbalance a structural issue

Experts: Deficit will narrow if US lifts curbs on high-tech products

The major cause of the trade imbalance between China and the United States is the US economic structure, and Washington should ease limits on high-tech exports to reverse the situation, officials and business leaders said.

To drive their profit growth rate and benefit domestic consumers, a large number of US businesses have already moved their manufacturing facilities to countries including China, South Korea, the Philippines, Turkey and Brazil, where the cost of labors and materials is less expensive than in the US, said Wang Yiming, deputy director of the Development Research Center of the State Council, or DRCSC.