Even in the face of continuing complaints about the U.S. balance of trade deficit with China , a new report by the U.S.-China Business Council says exports to the Asian giant are growing at a faster rate than exports to the rest of the world.
"Even with a global recession, American businesses and American workers continue to benefit from expanding opportunities to sell high-value manufactured goods to the China market, the world's fastest growing economy," Council President John Frisbie said.
Frisbie said that U.S. exports to China outpaced export growth to other global markets, describing U.S. export to China having jumped 330 percent since 2000, compared to 29 percent to the rest of the world.
The report says that U.S. exports to China in 2009 were roughly equal to those in 2008, while U.S. exports to the rest of the world dropped nearly 20 percent. It said that in the final months of 2009, U.S. exports to China set monthly records, exceeding $20 billion for the first time.
