The Associated Press has a nice reality check on the various controversies surrounding Sino-American relations. Whatever friction there might be, the commercial ties between the two countries is strong and growing. Here’s what’s going on while the government bicker:
Trade in goods between the U.S. and China last year hit a record $562 billion. American companies earned nearly $10 billion last year in China, another record. American direct investment in China exceeds $50 billion.
General Motors sells more cars in China than in the United States. General Electric sells China clean power plants that run on methane. Wal-Mart has 390 stores across China. Starbucks runs hundreds of cafes in China.
Obviously, Chinese hacking must be stopped, or, at least, reduced. And our complaints are clearly undermined by the NSA issue. But clearly, it is in the interests of both sides to navigate carefully so that we don’t mess up a good thing.
