US Chamber of Commerce predicts 2018 China will be the largest import market for goods

On October 20, according to the US news agency, the US Chamber of Commerce predicts that imports of Chinese goods will overtake the US in 2016, as the U.S. economy emerges from the downturn, and the Shanghai AmCham, in its latest series of views on U.S. export competitiveness to China, has won the world's fastest-growing market.　　China is expected to overtake the EU as the world's largest import market in 2018, and the report also highlights the importance of boosting U.S. exports to China for economic and employment growth. The rapidly expanding consumption capacity of the Chinese market offers unprecedented opportunities for American exporters.　　The view report shows the potential of the Chinese market is huge, with 1% of China's import market means 12.3 billion of dollars in exports and 76,000 new jobs in the United States. U.S. exports to China increased by 330% since 2000, but still lag behind other overseas rivals in terms of strength. In the second quarter of 2010, U.S. exports of goods to China rose 24% from a year earlier---but in the same period Germany, South Korea and Japan increased their exports to China far more than the United States (53%,39%,29%). "The key to harnessing the potential of China's export market to boost U.S. employment and economic growth is to enhance U.S. export competitiveness to China," said Robert Rosi, chairman of the Shanghai AmCham.　　"The report analyses the successful experience of Germany and other competitive exporters in promoting exports to China.　　In the recently concluded Washington "Knock on the door" of the American Chamber of Commerce in Shanghai, we report the his perusal to Capitol Hill lawmakers and government officials. The report also first introduced the Shanghai American Chamber of Commerce's China Market Export competitiveness Index, showing that the U.S. exports to China ranked the top 21 countries and regions ranked only 12, behind Germany, the European Union, Japan, South Korea, Australia and other countries and regions. (Dong Ji)