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Zhiwei Zhang, Chief Economist & Head of Equity Strategy, China discusses trade talks between the US and China, meanwhile China has begun to invest considerable resources into its relationship with Europe, Japan, and other countries. [more]
China ran a $376bn trade surplus against the US in 2017. US goods exports to China are worth only a quarter of US imports from China. However, these numbers do not capture the true size of US business interest in China. They are at odds with the fact, for example, that Chinese consumers own more active iPhones and buy more General Motor cars than US consumers do. These cars and phones are sold to China not through US exports, but through Chinese subsidiaries of US multinational enterprises. [more]