Cui: Bilateral trade supports 2.6 million jobs in the US

international economic governance, both through strong endorsements of globalization and free trade in the international arena, and through groundbreaking endeavors like the Asian Infrastructure Development Bank to address Asia’s infrastructure needs, and the Belt and Road Initiative to increase connectivity on the Eurasian continent, according to Cui.

Citing figures from the USChina Business Council, a private, nonpartisan, nonprofit organization of roughly 200 American companies that do business with China, Cui said 2.6 million US jobs are supported by the China-US bilateral trade relationship.

Cui also quoted a report prepared by Oxford Economics for the council in January, which said that by 2030, US exports to China are expected to increase to more than $520 billion, as China is expected to continue to be one of the world’s fastest growing economies.

Cui cautioned, however, the mutual opportunities afforded by a globally engaged China are not always on the mind of the US, citing the recent investigation initiated by the US to intellectual property.

He said the probe“showed the overemphasized trade imbalance between the two countries, the misunderstandings about China’s debt, and the treatment of foreign investment based on each other’s appeals are all major concerns for the bilateral relationship”.

“However, through dialogue, our two countries can address these concerns, which in turn will benefit the global economy,” he said.