China to be No. 3 US export market
(AP)
Updated: 2006-07-27 09:10 "As the Chinese market improves and continues to open I think we'll see these
high rates of growth," he said.
Still, China exports far more to the United States than vice versa - a
perennial source of political friction between the nations.
Washington blames Chinese imports for the loss of 3 million manufacturing
jobs in the U.S. and many in Congress say China competes unfairly, mainly by
keeping its currency undervalued compared to the dollar.
The U.S. administration recently rejected a petition by American unions
seeking an investigation into Chinese labor practices, arguing that there was
evidence Chinese practices were improving.
Lavin, who is attending a series of meetings in China through next week, said
he would seek progress in meetings with Chinese officials on irritants in the
relationship, particularly copyright violation.
Lavin will be discussing limits to U.S. businesses and services in China,
among the barriers he said that help create the damaging perception in America
that China doesn't play fair. Such sentiments have undercut efforts by Chinese
companies to enter the U.S. market, such as the failed attempt last year by
state-controlled CNOOC Ltd. to buy Unocal Corp.
"If the Chinese market is perceived as unfair, if it's perceived as closed
and we have a substantial trade deficit, these two factors together can feed an
anti-Chinese sentiment in the United States, which I feel is unhealthy for both
countries," Lavin said.
He also said he would argue in favor of bids by U.S. companies for chunks of
Chinese firms, including a $3 billion offer by a consortium led by Citigroup
Inc. for a stake in Guangdong Development Bank.
(For more biz stories, please visit Industry Updates)
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