U.S.-China trade expected to double by 2024
September 28, 2015 Category Foreign trade, Weekly
The annual bilateral trade volume between China and the United States is expected to double by 2024, according to Chinese Commerce Minister Gao Hucheng. In a column published in USA Today under the headline “China-U.S. trade soars, benefiting both nations”, he wrote that “by 2024, the volume of bilateral trade is likely to surpass USD1 trillion”. Bilateral trade in goods hit USD555.1 billion last year, up 227-fold since diplomatic relations were forged in 1979 and a reflection of the integration of China’s economy with the world economy. “China and the U.S. share extensive common interests and mutual demands, with economic globalization and regional economic integration rapidly developing,” said Chen Fengying, Expert on the world economy at the China Institutes of Contemporary International Relations. “As President Xi Jinping visits the United States, history tells us that Sino-U.S. economic cooperation is win-win, and we look forward to a bright future,” Commerce Minister Gao concluded.
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