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»Issue 1, Volume 1 www.scarbrough-intl.com » January 23, 2007 |
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INTERNATIONAL MONITOR US-China Trade Relations The US-China Business Council had a seminar on Feb 15th, 2007 in St. Louis, MO. John Frisbie, President, and Bob Poole, Vice President, were the speakers and discussed both Imports and Exports between the two countries. Since China joined the WTO back in 2001, trade from the U.S. to China has grown 157 %. Exports from Missouri alone to China have grown 558 % at the same time. Even with this growth over the past 6 years, we still have a Trade Deficit with China although it is not as dramatic as some might think. Congress and the Administrative Branch of the US government are in STRATEGIC ECONOMIC DIALOGUE (SED) with Chinese officials trying to balance this deficit and enjoy mutually beneficial outcomes. The Joint Commission on Commerce and Trade (JCCT) is helping to resolve the problems between the U.S. and China. Soon they will be the two premier economies in the world. Top 5 Export markets for US products 1. Canada 2. Mexico 3. China 4. Hong Kong 5. Japan Only 25% of U.S. companies that invest in China export their goods back to the U.S. The vast majority of U.S. companies in China use their overseas facilities to supply the local markets.
Chinese businesses have a growth rate of 22 % each year. They are in constant hiring mode. They are working on cutting down turnover and have implemented Training and Development programs for their employees to produce higher retention rates. Last year alone, China had 1.5 million college graduates that were unemployed. Rising cost of urban development is forcing companies and workers to move to rural areas. For more information on the US-China Business Council, please visit www.uschina.org Did you know? Anheuser-Busch has more brewers in China than in the U.S. |
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