US, China firms sign 35 deals worth eight billion dollars

[FarCenter]

http://thenews.jang.com.pk/updates.asp?id=47591

Updated at: 0500 PST, Tuesday, June 17, 2008

WASHINGTON: American and Chinese firms have signed 35 deals worth eight billion dollars ahead of a high level meeting that could formally endorse talks for a bilateral investment treaty, officials said.

The inking of the agreements in Washington was witnessed by Chinese Vice-Premier Wang Qishan and Commerce Minister Chen Deming, who are leading a cabinet team for the two days of talks beginning Tuesday.

The US side to "strategic economic dialogue" (SED) at the Naval Academy in Annapolis, east of Washington, will be led by Treasury Secretary Henry Paulson and Federal Reserve chairman Ben Bernanke.

The deals signed at the US Chamber of Commerce on Monday involved US firms such as General Motors, Texas Instruments, Cisco, Ford, IBM, Oracle and Motorola. Chinese firms included dominant local mobile operator China Mobile.

The signing will contribute to "the healthy development" of US-China trade and economic ties and is part of plans by Chinese companies to increase imports from the immensely deficit-ridden United States.

US trade deficit with China hit a record 256.2 billion dollars last year.

A Chinese trade and investment mission involving 120 companies accompanying the Chinese ministers "will be signing more than 70 buy-from-the-US contracts and agreements to invest in the US that are worth 13.6 billion dollars in total."

[Trajan]

1. China will be increasing imports ?

Of products also produced in China ?

Wow ... Maybe they will let us buy that stuff too ....

Now .... Where is my soup bowl ? ...

:sarcasm:

[FarCenter]

2. We export more factory equipment, infrastructure, etc to increase the Chinese manufacturing capacity

[Trajan]

3. Oh really ?

WE export that ? .....

Name some ..... DO identify the location of manufacture for that equipment ....

I am guessing you are a proponent of NAFTA ... and are pleased with the results that American workers have 'enjoyed' as a consequence .....