US should start exporting high-tech to China, say experts

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By CGTN's The Point

Washington has complained of trade imbalances with Beijing but it could actually be exporting more to China, especially high-tech products, if it overcame concerns of national security, according to experts.

“US consumers have had huge benefits from imports of Chinese goods,” Xiang Songzuo, deputy director and senior fellow of the Center for International Monetary Research at Beijing’s Renmin University, told CGTN’s The Point, in response to US complaints of unfair trade ties.

“I think the US has its own comparative advantage, which is its high technology. The US should export high-tech products and techniques to China in order to solve the trade deficit,” he urged.

There are still obstacles as the US is concerned such imports could represent a national security risk, but the US is harming itself with this attitude, according to Dan Steinbock, director of the Difference Group, a political and financial advisory body.

“In business circles, this is an argument that is understood as being political rather than economical,” he said. “These kinds of policies that have existed in the US for maybe one or two decades now, they should be reassessed. China is already in a very different stage than where it was 10 years ago, it’s becoming very innovative.”

‍The Point with Liu Xin is a 30-minute current affairs program on CGTN. It airs weekdays at 9.30 p.m. BJT (1330GMT), with rebroadcasts at 5.30 a.m. (2130GMT) and 10.30 a.m. (0230GMT).