China's hi-tech sector is booming
Last week, the Congressionally-created, bipartisan U.S.-China Economic and Security Review Commission (USCC) released its 2011 Annual Report to Congress.
Here are a few interesting items from the report:
China’s exports are more likely to be based on high technology than any time in the past. The United States runs a large trade deficit with China in high technology products. On a month-to-month basis, the United States imports 560 percent more advanced technology products from China than it exports to China. China exported more than $4 worth of goods to the United States for each $1 in goods that it imported from America. For advanced technology products, the ratio was five to one in China’s favor.
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