2018經貿摩擦的與中方立場白皮書

公室9月24日《關于經貿摩擦的事實與中方立關于經貿摩擦的事實與中方立TheFacts ’sPosition -USTrade（20189）InformationOfficeoftheStateThePeople’sRepublicSeptember一、經貿合作互利共贏二、經貿關系的事實三、的貿易保護主義行四、的貿易主義行Mutually-beneficialandwin-wincooperationbetween andtheUSintradeandeconomyClarificationsofthefactsabout -UStradeandeconomicThetradeprotectionistpracticesoftheUSThetradebullyismpracticesoftheUSDamageoftheimproperpracticesoftheUSadministrationtoglobal’s世界上最大的發展中國家，是世界上最大的發達國家。經istheworld’sbiggestdevelocountryandtheUnitedStatesisthebiggestdevelopedcountry.TradeandeconomicrelationsbetweenandtheUSareofgreatsignificanceforthetwocountriesaswellasforthestabilityanddevelopmentoftheworldeconomy.來，在經濟全球化快速發展過程中，兩國遵循雙邊協定和世界貿易組織等Sincetheestablishmentofdiplomaticrelations,bila ltradeandeconomictiesbetweenandtheUShavedevelopedsteadily.Aclosepartnershiphasbeenforgedunderwhichinterestsofthetwocountrieshave ecloserandwider.Bothcountrieshavebenefitedfromthispartnership,ashastherestoftheworld.Sincethebeginningofthenewcenturyinparticular,alongsiderapidprogressineconomicglobalization,andtheUShaveobservedbila ltreatiesandmultila lrulessuchastheWTOrules,andeconomicandtraderelationshavegrowndeeperandwider.Basedontheircomparativestrengthsandthechoicesofthemarket,thetwocountrieshavebuiltupamutuallybeneficialrelationshipfeaturingstructuralsynergyandconvergenceofinterests.ClosecooperationandeconomiccomplementaritybetweenandtheUShaveboostedeconomicgrowth,industrialupgradingandstructuraloptimizationinbothcountries,andatthesametimeenhancedtheefficiencyandeffectivenessofglobalvaluechains,reducedproductioncosts,offeredgreaterproductvariety,andgeneratedenormousbenefitforbusinessesandconsumersinboth相向而行的原則，先后建立了商貿聯委會、戰略經濟、戰略與經濟對話、全面經濟等溝通協調機制，雙方為此付出了不懈努力，保障了經貿關系在近40年時間里克服各種，不斷向前發展，成為關系的壓艙andtheUSareatdifferentstagesofdevelopment.Theyhavedifferenteconomicsystems.Thereforesomeleveloftradefrictionisonlynatural.Thekeyhoweverliesinhowtoenhancemutualtrust,promotecooperation,andmanagedifferences.Inthespiritofequality,rationality,andmovingtomeeteachotherhalfway,thetwocountrieshavesetupanumberofcommunicationandcoordinationmechanismssuchastheJointCommissiononCommerceandTrade,theStrategicandEconomicDialogue,andtheComprehensiveEconomicDialogue.Eachhasmadetremendouseffortsto eallkindsofobstaclesandmoveeconomicandtraderelationsforward,whichhasservedastheballastandpropelleroftheoverallbilal2017年新一屆上任以來，在“優先”的下，拋棄相互協商解決爭議的基本原則，以最大的耐心和誠意回應關切，以求同存異態度妥善處理，克服各種，同開展多輪磋商，提出務實解決起來的經貿關系受到極大損害，也使多邊貿易體制和自由貿易原則遭遇嚴Sincetakingofficein2017,thenewadministrationoftheUSernmenthastrumpeted“AmericaFirst”.Ithasabandonedthefundamentalnormsofmutualrespectandequalconsultationthatguideinternationalrelations.Rather,ithasbrazenlypreachedunilalism,protectionismandeconomic,makingfalseaccusationsagainstmanycountriesandregions-particularly-intimidatingothercountriesthrougheconomicmeasuressuchasimposingtariffs,andattemptingtoimposeitsowninterestsonthroughextremepressure.hasrespondedfromtheofthecommoninterestsofbothpartiesaswellastheworldtradeorder.Itisobservingtheprincipleofresolvingdisputesthroughdialogueandconsultation,andansweringtheUSconcernswiththegreatestlevelofpatienceandgoodfaith.Thesidehasbeendealingwiththesedifferenceswithanattitudeofseekingcommongroundwhileshelvingdivergence.Ithas emanydifficultiesandmadeenormouseffortstostabilize-USeconomicandtraderelationsbyholdingroundsofdiscussionswiththeUSsideandproposingpracticalsolutions.HowevertheUSsidehasbeencontradictingitselfandconstantlychallenging.Asaresult,tradeandeconomicfrictionbetweenthetwosideshasescalatedquicklyoverashortperiodoftime,causingseriousdamagetotheeconomicandtraderelationswhichhavedevelopedovertheyearsthroughthecollectiveworkofthe ernmentsandthetwopeoples,posingagravethreattothe ltradingsystemandtheprincipleof為澄清經貿關系事實，闡明中國對經貿摩擦的政策立場，推動問Inordertoclarifythefactsabout-USeconomicandtraderelations,clarify’sstanceontradefrictionwiththeUS,andpursuereasonablesolutions,theernmentofispublishingthisWhite一 經貿合作互利共Mutually-beneficialandwin-wincooperationbetweenandtheUSintradeandeconomy建交以來，雙邊經貿關系不斷發展，貿易和投資等合作取得豐碩成果，實現了優勢互補、互利共贏。中國從中受益匪淺，也從中獲得了廣泛、巨大的經濟利益，了中國來的機遇和成果。事實證明，良好EconomicandtraderelationshavedevelopedsteadilysincetheestablishmentofdiplomatictiesbetweenandtheUS,withfruitfulresultsachievedintradeandinvestment.benefitsremarkablyfromthestrongsynergy,whiletheUSalsoreapsextensiveeconomicbenefitsfromtheopportunitiesandresultsgeneratedby’sgrowth.Itisself-evidentthatasound-USeconomicandtraderelationshipisveryimportantforbothcountries.Cooperationservestheinterestsofthetwosidesandcanonlyhurtboth.（一）雙方互為重要的貨物貿易伙andtheUSareimportantpartnersforeachotherintradein雙邊貨物貿易快速增長。根據中國有關部門統計數據，2017年雙邊貨物貿易額達5837億，是1979年建交時的233倍，是2001年中國加入世界貿易組織時的7倍多。目前，第一大貨物出口市場和第六大進口來源地，2017年中國對出口、從進口分別國出口和進口的19%和8%；增長最快的出口市場和第一大進口來源地，2017年美國對華出口占出口的8%。Two-waytradeingoodshasgrownrapidly.statisticsshowthattradeingoodsbetweenandtheUSin2017amountedtoUS$583.7billion,a233-foldincreasefrom1979whenthetwocountriesforgeddiplomaticties,aswellasaseven-foldincreasefrom2001whenjoinedtheWorldTradeOrganization.Currently,theUSis’sbiggestexportmarketandsixthbiggestsourceofimports.In2017,theUStook19%of’sexportsandprovided8%of’simports.isthefastestgrowingexportmarketforUSgoodsandthebiggestsourceofimportsoftheUnitedStates.In2017,8%ofUSexportswentto.2017年對華貨物出口1298.9億，較2001年的191.8億增577%，遠遠高于同期對全球112%的出口增幅（圖1）USexportstoaregrowingmuchfasterthanitsglobalaverage.SinceitsaccessiontotheWTO,has eanimportantmarketforUSexports,whichhavegrownrapidly.UNstatisticsindicatethatin2017USexportsofgoodstoamountedtoUS$129.89billion,a577%increasefromUS$19.18billionin2001,andfarhigherthanthe112%averagegrowthrateofoverallUSexports(Chart1).11UnitedNationsCommodityTradeStatistics圖表：圖1：對華貨物出口增速快于對全球出口增速（%）新Chart1:USExportstoGrowFasterthanitsGlobalExportTrade404030201717.2021.0614101011.912.19-4--1020--30USGlobalUSExportSource:2017年出口中57%的大豆、25%的波音飛機、20%的汽車、14%的集成isanimportmarketforUSgoodssuchasairnes,agriculturalproduce,autos,andintegratedcircuits.representstheNo.1exportmarketforUSairnesandsoybeans,andtheNo.2exportmarketforUSautos,ICproductsandcotton.In2017took57%ofUSsoybeanexports,25%ofaircraft,20%ofautos,14%ofICsand17%ofcotton.雙邊貿易互補性強。居于全球價值鏈的中高端，對華出口多為資本品和中間品，中國居于中，對美出口多為消費品和最終產品，兩國發揮各自比較優勢，雙邊貿易呈互補關系。7年中國向出口前三大類商品為電機電氣設備及其零附件、機械器具及零件、家具寢具燈具等，合計占比為%。中國從進口前三大類商品為電機電氣設備及其零附件、機械器具及零件、車輛及其零附件，合計占比為8%。機電產品在雙邊貿易中占重要，產業內貿易特征較為明顯（表）。中國對美出口的“高技術產-USbilaltradehasastrongcomplementarity.TheUSstandsatthemid-andhigh-endinglobalvaluechainsanditexportscapitalgoodsandintermediarygoodsto.Remainingatthemid-andlow-endinglobalvaluechains,mainlyexportsconsumergoodsandfinishedproductstotheUS.Thetwocountriesytotheircomparativestrengthsandthetwo-waytradeishighlycomplementary.In2017,thetopthreecategoriesofexportstotheUSwere:electricmachines/electricalproducts/equipmentandmechanicalapparatusandcomponents,whichaccountedfor53.5%ofitstotalexportstotheUS.ThetopthreecategoriesofproductsthatimportedfromtheUSwere：machinery/electricequipment/componentsandmechanicalapparatusandcomponents,autoandcomponentsandwhichaccountedfor31.8%oftotalimportfromtheUS.Machineryandelectronicproductstakealion’sshareoftwo-waytrade,andthereisanevidentcharacteristicofintra-industrytrade.(Table1)Formostofthehi-techproductsthatexportstotheUS,onlylabor-intensiveprocessingtakescein,involvinglarge-scaleimportofkeycomponentsandintermediaryproductsaswellasinternationaltransferof圖表：表1：2017年中國對主要進、出口商品（HS2位碼）Table1:Major’simportsfromandexportstotheUS(HS2-ShareinfromtheUS(%)ShareintotheUS(%)Chapter85electricmotor,electricproducts,audio-Chapter85electricmotor,electricproducts,audio-visualvisualequipmentcomponentsandequipmentandandChapter84nuclearreactors,furnaces,mechanicalapparatusandcomponentsChapter84nuclearreactor,furnace,mechanicalapparatusandcomponentsChapter87autosandcomponentsandexcludingrailwayChapter94furniture,bedding,lampsandtrailerChapter12oilseeds,kernels,ntsforindustrialorpharmaceuticalpurposes,animalfeedChapter95toys,gameorsportarticlesandcomponentsandaccessoriesChapter88aircraft,spacecraftandcomponentsChapter61knitwear,crochetedapparelandChapter90optical,photographicandmedicaldevicesandcomponentsandChapter39sticsandsticarticlesChapter27mineralfuels,mineraloilandproducts,asphalt,etc.Chapter87autosandcomponentsandexcludingrailwayChapter39sticsandsticarticlesChapter62non-knitwear,non-crochetedapparelsandSource:（二）雙邊服務貿易快速增 ltradeinservicesisdevelo面統計，2007-2017年，服務貿易額由249.4億擴大到750.5億美元，增長了2倍。2017年，據中國統計，第二大服務貿易TheUShasahighly-advancedandfully-fledgedserviceindustrywhichisverycompetitiveontheinternationalmarket. panyingthegrowthoftheeconomyandtheimprovementofpeople’slivingstandardsisanobviousriseindemandforservicesandrapidgrowthinbilalservicestrade.AccordingtoUSstatistics,two-waytradeinservicesrosefromUS$24.94billionin2007toUS$75.05billionin2017.Accordingto ,theUSwas’ssecondbiggestservicestradepartner;accordingtoUSDOC,isthethirdbiggestmarketforUSservice計，2007-2017年，對華服務出口額由131.4億擴大到576.3億美元，增長了3.4倍，而同期對世界其他國家和地區的服務出口額增長1.8倍，對華服務貿易年度順差擴大30倍至402億（圖2）。TheUSisthebiggestsourceof’sdeficitinservicestradeandthisdeficithasbeenincreasingfast.USstatisticsshowthatUSserviceexportstogrew340%fromUS$13.14billionin2007toUS$57.63billionin2017whileitsserviceexportstoothercountriesandregionsinthesameperiodgrewby180%.TheUSsurpluswithinservicesmultipliedbyafactorof30toUS40.2billion.(Chart2)Atpresent,theUSrepresentsroughly20%of’stotaldeficitinservicestrade,thebiggestsourceofthisdeficit.’sdeficitwiththeUSisconcentratedinthreeareas,travel,transportandin lectualpropertyroyalties.圖表：圖2：服務貿易（單位：億）Chart2:USServicesImportsfromandExportsto(unit:US$100Source:BureauofEconomicysis,US中國對美旅行服務貿易逆差不斷擴大。據統計，截至年，中國內地到訪的游客數量已連續13年增長，其中12年的增速都達到兩位數。中國統計顯示，2017年中國游客赴美旅游、留學、就醫等旅行支出合計達510億，其中赴美游客約300萬人次，在美旅游支出高達330億。在教育方面，學生留學第一大目的地，2017年中國在美留學生約42萬人，為貢獻約180億收入。根據方面統計，中國對旅行服務貿易逆差從2006年的4.3億擴大至2016年的262億50.8%’stradedeficitwiththeUSintourismcontinuestowiden.AccordingtotheDOC,by2016thenumberof visitorstotheUShadbeenincreasingfor13consecutiveyears,withdouble-digitgrowthin12ofthe13years.statisticssuggestthatin2017visitorsgoingtotheUSfortourism,education,andmedicaltreatmentspentatotalofUS$51billionintheUS.Amongthem,3millionweretourists,whospentasmuchasUS$33billionwhiletravelingintheUS.education,theUSisthelargestoverseasdestinationforstudents.In2017,therewerearound420,000studentsintheUS,contributingsomeUS$18billiontolocalrevenues.AccordingtoUSfigures,’stradedeficitwiththeUSintourismgrewfromUS$430millionin2006toUS$26.2billionin2016,registeringanaverageannualgrowthof50.8%. 引進來源國，2012-2016年，中國自引進 近2.8萬項。中國對支付的知識使用費從2011年的34.6億增加至2017年的72億，6年時間翻了一番（圖3）。其中2017年中國對美支付’spaymentsfortheuseofUSin lectualpropertycontinuestorise.statisticsindicatethattheUSisthelargestsourceof lectualpropertyimports.From2012to2016,importednearly28,000itemsofinlectualpropertyfromtheUS.’spaymentsforUSinlectualpropertydoubledinsixyearsfromUS$3.46billionin2011toUS$7.2billionin2017.(Chart3)Inbreakdown,’sinlectualpropertypaymentstotheUSaccountedforaquarterofitstotalinlectualpropertypaymentstoforeign圖表：圖3：中國對支付知識使用費情況Chart3:’sPaymentfortheUseofUS lectual ,（三）互為重要的投資伙3.andtheUSareimportantinvestment重要來源地。根據中國統計，截至2017年，累計在華設立外商投資企業約6.8萬家，實際投資超過830億。中國企業資的發展，中國企業對直接投資從2003年的0.65億增長至2016年的169.8億。根據中國統計，截至2017年，中國對美直接投資存量約670億。與此同時，中國還對進行了大量金融投資。根據財政部統計，截至2018年5月底，中國持有國債1.18萬億。TheUSisamajorsourceofforeigninvestmentfor.According,bytheendof2017,therewere y68,000US-enterprisesinwithoverUS$83billioninactualizedinvestment.WitharapidincreaseindirectinvestmentbyenterprisesintheUS,thelatterhas animportantdestinationforinvestment.As’soutboundinvestmentgrew,enterprises’directinvestmentintheUSrosefromUS$65millionin2003toUS$16.98billionin2016.Accordingto figures,bytheend2017,thestockofdirectinvestmentintheUSamountedtoapproximayUS$67billion.Meanwhile,hasalsomadeasignificantfinancialinvestmentintheUS.AccordingtotheUSTreasuryDepartment,heldUS$1.18trillionofUStreasurybillsbytheendofMay2018.（四）雙方均從經貿合作中明顯獲4.andtheUShavebothbenefitedmarkedlyfromtradeandeconomicandtheUShavebothreapedenormousbenefitsandcreatedwin-winresultsfromtradeandeconomiccooperation.價值鏈，為中國經濟增長帶來了可觀的外部市場。經過開放以來40年的發展，2017年中國貨物貿易總額4.1萬億，居世界首位；服務貿易總額6956.8億，居世界第二位；吸引外商投資1363億，-UStradeandeconomiccooperationhaspromotedeconomicdevelopmentinandimprovedeconomicwellbeing.Againstthebackdropofeconomicglobalization,strengtheningtradeandinvestmentcooperationwithothercountries,includingtheUS,andopeningupmarketstoeachotherhashelpedenterprisesintegrateintotheglobalindustrialchainandvaluechain,andopenedupahugeexternalmarketforeconomicgrowth.Thankstoeconomicdevelopmentoverthepast40yearsofreformandopeningup,in2017becametheworld’slargesttraderingoods,withUS$4.1trillionoftotalmerchandiseimportsandexports.ItbecamethesecondlargesttraderinserviceswithUS$695.68billionworthoftotalservicesimportsandexports.AnditbecamethesecondlargestrecipientofFDI,withUS$136billionofinwardforeigninvestment.Americanfirmshaveyedanexemryroleinfortheirpeersintermsoftechnologicalinnovation,marketingmanagement,andinstitutionalinnovation.Theyhavepromotedmarketcompetition,improvedindustryefficiency,andmotivatedfirmstoimprovetheirtechnologyandmanagement.InimportingalargenumberofmechanicalandelectricalproductsandagriculturalproductsfromtheUS,hasmanagedtomakeupforitsownsupplydeficiencies,andsatisfythedemand—especiallyhigh-enddemand—invarioussectorsbyofferingconsumersadiversityofchoice.與此同時，獲得了投資、進入等大量商業機會，對Atthesametime,theUShasgainedaccesstoawiderangeofbusinessopportunitiessuchascross-borderinvestmentandentryintothemarket,whichhaveyedabigpartindrivingeconomicgrowth,improvingconsumerwelfare,andupgradingtheeconomicstructureintheUS.員會和牛津聯合研究估算，2015年自華進口提振了國內生產總值0.8個百分點；對華出口和雙向投資為國內生產總值貢獻了2160億，提升經濟增長率1.2個百分點；來自中國物美價廉的商品降低了消費者物價水平，如2015年降低其消費物價水平1-1.5個百分點。TradeandeconomiccooperationhassupportedUSeconomicgrowthloweredUSinflation.AjointestimatebytheUS-BusinessCouncilandOxfordEconomics2indicatedthatin2015importsfrom droveuptheUSgrossdomesticproductby0.8percentagepoints.Exportstoandtwo-wayinvestmentcontributedUS$216billiontoAmerica’sGDP,pushingUSeconomicgrowthrateupby1.2percentagepoints.Value-for-moneyproductsfromdrovedownpricesforAmericanconsumers,andin2015forexample,reducedtheconsumerpriceindexby1to1.5percentagepoints.AlowinflationenvironmenthascreatedmuchroomforexpansionarymacroeconomicpoliciesintheUS.為創造了大量就業機會。據美中貿易估算，2015年對華出口和雙向投資支持了國內260萬個就業崗位。其中，中國對美 BusinessCouncil&OxfordEconomics:Understandingthe TradeRelation,2017投資遍布46個州，為國內創造就業崗位超過14萬個，而且大部分為TradeandeconomiccooperationhascreatedalargenumberofjobsintheUS.AccordingtoaUS-BusinessCouncilestimate,in2015,USexportstoandUS-two-wayinvestmentsupported2.6millionjobsin investmentcovered46statesoftheUS,generatingfortheUSmorethan140,000jobs,mostofwhichareinmanufacturing.研究顯示，2015年，貿易平均每年為每個家庭節省850成本，相當于家庭收入的1.5%TradeandeconomiccooperationhasbroughtrealbenefitstoAmericanconsumers.Bilaltradeprovidesconsumerswithabroadrangeofchoices,lowerstheirlivingcosts,andraisestherealpurchasingpoweroftheAmericanpeople,especiallythelow- ecohort.AccordingtotheUS-BusinessCouncil,in2015,tradewithsavedeveryAmericanfamilyUS$850ofexpenditureeachyear,whichisequivalentto1.5%oftheaveragehousehold eintheUS.4為企業創造了大量商機和利潤。一個巨大而快速增長的市場，國發布的《2017年度美各州對華出口報告》，2017年46個州的前五大貨物出口市場之一，2016年所有50個州的前五大服務出口市場之一；2017年每個農民平均向中國出口農產品1萬以上。從投資來看，根據中國統計，2015年企業實現在華銷售收入 BusinessCouncil&OxfordEconomics:Understandingthe TradeRelation,2017 BusinessCouncil&OxfordEconomics,Understandingthe TradeRelation,20175170億，利潤超過360億；2016年銷售收入約6068億，利潤超過390億。三大汽車制造商2015年在華合資企業利潤合計達74.4億。2017年美系乘用車在華銷量達到304萬輛，國乘用車銷售總量的12.3%，僅通用汽車公司在華就有10家合資企業，在華產量占到其全球產量的40%。高通公司在華銷售和專利費收入占其總營收的57%，英特爾公司（包括地區）營收占其總營收的23.6%。201719.52017113家銀行在華設有分支機構，10家美資機構在華設有公司。高70%由美資投資銀行擔任主承銷商或主承銷商。共設立駐華代表處約120家。TradeandeconomiccooperationhascreatedalargenumberofbusinessopportunitiesandsignificantprofitsforAmericanbusinesses.Withbeingahugeandrapidlygrowingmarket,tradeandeconomiccooperationbetweenandtheUShascreatedhugebusinessopportunitiesforAmericanbusinesses.Fromthetrade,theUS-BusinessCouncil2017StateExportReportfoundthatin2017,wasoneofthetopfiveexportmarketsofgoodsfor46states.In2016wasoneofthetopfiveexportmarketsofservicesforall50states.OnaverageeveryUSfarmerexportedoverUS$10,000ofagriculturalproductstoin2017.Fromtheinvestment,accordingto ,in2015USfirmsinrealizedapproximayUS$517billionofsalesrevenueandoverUS$36billionofprofits;in2016,theirsalesreachedaboutUS$606.8billionandprofitsexceededUS$39billion.ForthetopthreeUSautomakers,theirjointventuresinmadeatotalprofitofUS$7.44billionin2017.Inthesameyear,atotalof3.04millionAmericanpassengervehiclesweresoldin,accountingfor12.3%ofpassengervehiclessold 5.GeneralMotorsalonehastenjointventures.Itsoutput accountedfor40%ofitsglobal efromchipsalesandpatentroyaltiesinaccountedfor57%ofitstotalrevenue.In ’srevenuesin(includingtheHongKongregion)accountedfor23.6%ofitstotalrevenue.7IntheFY2017,revenuesfromGreater for19.5%oftheAppleInc.total.8ByJanuary2017,13AmericanbankshadsubsidiariesorbranchesandtenAmericaninsurancecompanieshadinsurancefirmsin.GoldmanSachs,AmericanExpress,BankofAmerica,MetlifeandotherAmericanfinancialinstitutionshavereapedhandsomereturnsfromtheirstrategicinvestmentinfinancialinstitutions.AccordingtoSecuritiesRegulatoryCommission,Americaninvestmentbankswereleadunderwritersorco-leadunderwritersfor70%ofthefundsraisedbycompaniesintheiroverseasIPOsandrefinancing.9USlawfirmshavesetupabout120officesin 產，在全球市場銷售。根據高盛公司2018年的，如蘋果公司將生產與組裝全部移到，其生產成本將提高37%。從技術合作領域看，企業 Associationof Manufacturers( 6GeneralMotors 8AppleInc. 9ResearchReport -USTradeandEconomicRelations,page Tradeandeconomiccooperationhaspromotedindustrialupgrading.Intheirtradeandeconomiccooperationwith,USmultinationalcompanieshavesharpenedtheirinternationalcompetitivenessbycombiningcompetitivefactorsofproductioninthetwocountries.Forexample,saredesignedintheUS,manufacturedandassembledin,andsoldintheworld.AccordingtoaGoldmanSachsreportin2018,shouldAppleInc.relocateallitsproductionandassemblytotheUS,itsproductcostwouldincreaseby37%.10Intechnologicalcooperation,UScompanieswhichhavesalesandinvestmentinenjoythebenefitsofcomputingandartificialin ligenceappliedin,sothatAmericanproductscanbetteradapttothechangingglobalmarket.11BymanufacturingforUScompanies,hasenabledtheUStoinvestmoremoneyandresourcesininnovationandmanagement,focusonhigh-endmanufacturingandmodernservices,andupgradeitsindustrywithmoreadded-valueandhightechnology.ThishasalsohelpedtheUSinconservingenergyandresourcesandmitigatingpressureinenvironmentalprotectionathome,makingtheUSmorecompetitiveintheworld.Ingeneral,-UStradeandeconomiccooperationisawin-winrelationshipandbynomeansazero-sumgame,bringingconcretebenefitstoUScompaniesandpeople.SomeAmericansclaimthattheUnitedStatesis“losing”inthisrelationship,aclaimwhichdoesnotstanduptoscrutiny.二 經貿關系的事Clarificationsofthefactsabout-UStradeand10GoodmanSachs(),MadeinUS…..or ?25YearsSupplyChainInvestmentataCrossRoads,May2017. techisn’ttheenemy,AnjaManuel,TheAtlantic,Aug1,任通過發布《對華301報告》等方式，作出“經濟侵化指責，嚴重歪曲了經貿關系的事實，無視中國開放的巨大成績和中國人民為此付出的心血汗水，這既是和的不尊重，也是對Economiccooperationandtradebetweenthetwocountriesissohuge,substantiveandbroad-based,withsomanyyers,thatitisinevitableforsomedifferencesandfrictiontoemerge.Thetwocountriesneedtotakea,keepinmindtheirstrategicinterestsandtheinternationalorder,properlyhandletheirdifferencesbyseekingcommongroundwhileshelvingdifferences,andtakepracticalstepstoresolvetheirtensions.However,initsSection301reportandotherways,thecurrentUSadministrationstigmatizesbyaccusingitof“economicaggression”,“unfairtrade”,“IPRtheft”and“nationalcapitalism”.Thisisagrossdistortionofthefactsin-UStradeandeconomiccooperation.Itturnsablindeyetothehugeprogressin’sreformandopening-upaswellasthededicationandhardworkofthepeople.Thisisdisrespectfultotheernmentandpeopleaswellas patiblewiththerealinterestsoftheAmericanpeople.Itwillonlyaggravatedifferencesandtensions,whichintheendwilldamagethefundamentalinterestsofboth（一）不應僅看貨物貿易差額片面評判經貿關系得Thegapintradeingoodsaloneisnotagoodindicatorof-UStradeandeconomiccooperation.生產總值之比已由2007年的11.3%降至2017年的1.3%。貨物貿易不平解決這一問題需要雙方共同努力進行結構性調整。無視影響經貿關系Anobjectiveunderstandingandassessmentof-UStradebalancecallsforcomprehensiveandin-depthstudy,ratherthanaglanceatthetradedeficitingoods.Itisnot’sintentiontohaveatradesurplus.Rather,theratioof’scurrentaccountsurplustoitsGDPhasdeclinedfrom11.3%in2007to1.3%in2017.imbalanceoftradeingoodsbetweenandtheUSismoreofanatural ofvoluntarychoicestheUShasmadeineconomicstructureandmarketinthelightofitscomparativestrengths.Toresolvethisissue,bothsidesneedtomakeconcertedeffortsinrestructuring.TheUnitedStatesturnsablindeyetovariousfactorsinitstradeandeconomiccooperationwith,singlesouttheimbalanceoftradeingoods,andblamesfortheimbalance,whichisunfairandunreasonable.經貿往來獲益大致平衡。雙邊貨物貿易不平衡現象有一個歷史演變過程。在上世紀80年代至90年代初期一直處于順差地位，1992年之-UStradeandeconomiccooperationdeliversbalancedbenefitsinTheimbalanceoftradeingoodsbetweenthetwocountrieshasevolvedovertime.Fromthe1980stoearly1990s,theUSranasurplusinitstradewith;in1992begantorunsurplus,whichhastogrow.在經濟全球化深入發展、生產普遍存在的今天，雙邊經貿關系內涵本國企業在對方國家分支機構的本地銷售額三項因素，雙方經貿往來獲益大致平衡，而且美方凈收益占優（圖4）。根據中國統計，2017年對華服務貿易順差為541億，在服務貿易方面占有顯著優勢。根據美國經濟分析局數據，2015年美資企業在華銷售額高達4814億，遠高于中資企業在美256億的銷售額，占有4558億的優勢，企業經營優勢更為突出。2018年6月德意志銀行發布的《估算國公司的全球經營對雙邊經貿交往的影響，實際上在雙邊貿易交往過企業子公司的貢獻等，2017年享有203億的凈利益。Intoday’sworldofgreaterglobalizationandwidespreadproduction,bila ltradeandeconomiccooperationalreadyextendbeyondtradeingoods.Tradeinservicesandsalesoflocalsubsidiariesinthehostcountry(localsalesintwo-wayinvestment)shouldalsobeincluded.Ifwegivefullconsiderationtothesethreefactors—tradeingoods,tradeinservicesandsalesoflocalsubsidiariesinthehostcountry,tradeandeconomiccooperationdeliversbalancedbenefitsingeneralforandtheUnitedStates,withthelatterreamorenetbenefits.(SeeChart4)Accordingto ,theUSranasurplusofUS$54.1billionintradeinservicesin2017,indicatingitsremarkablecompetitivestrengthinthisarea.AccordingtotheUSBureauofEconomicysis(BEA),thesalesofUScompaniesinreachedUS$481.4billionin2015,wayhigherthantheUS$25.6billionsalesofcompaniesintheUS,anadvantageofUS$455.8billion.UScompaniesenjoyanevenbiggeradvantageincross-borderoperations.InJune2018,DeutscheBankreleasedareportoncalculatingeconomicinterestsbetweentheUSanditsmajortradingpartners,arguingthat,fromtheofcommercialinterests,theUShasinfactgainedmorecommercialnetbenefitsthanfromtheirtwo-waytrade,giventheimpactofglobaloperationsbymultinationalcorporationsonbila tradeandeconomiccooperation.AccordingtoDeutscheBank,aftercontributionsfromsubsidiariesofthirdcountriesaretakenaway,theUSenjoyednetbenefitsofUS$20.3billionin2017.12圖表：圖4：經貿往來獲益大致平衡（2009—2015年，單位：十億元）Chart4:-USTradeandEconomicCooperationDeliversBalancedBenefitsinGeneral(2009-2015,unit:US$1billion)12DeutscheBank,“CalculatingtheEconomicInterestsoftheUSanditsMajorTradingPartners”,JuneGapinTradeGapeGapininSource:BureauofEconomicysis(BEA),勢和國際分工格局決定的。雙邊貨物貿易差額長期存在并不斷擴大，是多Thegapin-UStradeingoodsisanatural eoftheUSeconomicstructure,andaresultofthetwocountries’comparativestrengthsandtheinternationaldivisionoflabor.Thepersistentandgrowinggapintradeingoodsbetweenthetwocountriesisaresultofanumberoffactors,ratherthan’sintent.征是低儲蓄、高消費，儲蓄長期低于投資，2018年第一季度，凈國民儲蓄率僅為1.8%。為了平衡國內經濟，不得不通過貿易赤字形式大量利用外國儲蓄，這是貿易逆差形成并長期存在的根本原因。自1971年以來，總體上處于貿易逆差狀態，2017年與102個國家存在貿易逆差。貿易逆First,itisanatural eofalowsavingsrateintheUS.Fromtheofnationalaccounts,thebalanceofacountry’scurrentaccountisdecidedbytherelationshipbetweensavingsandinvestment.TheUSeconomyischaracterizedbylowsavingsandhighconsumption.Savingshavebeenlowerthaninvestmentformanyyears.Inthefirstquarterof2018,theUSnetnationalsavingsratewasaslowas1.8%.Tobalanceitsdomesticeconomy,theUShastoattractalargeamountofforeignsavingsbytradedeficit.ThisisthefundamentalcauseoftheUStradedeficitovertheyears.TheUSbegantoruntradedeficitsinitsforeigntradein1971,andby2017itwasrunningtradedeficitswith102countries.TheUStradedeficitisanendogenous,structuralandsustainedeconomicphenomenon.ThecurrenttradedeficitoftheUSwiththerestoftheworldhasshiftedamongitstradingpartnersandresideswithforthetimebeing.第二，這是產業比較優勢互補的客觀反映。從雙邊貿易結構看，中國與技術密集型產品和農產品領域都是逆差。2017為164億，國農產品貿易逆差總額的33%；飛機貿易逆差為127.5億，國飛機貿易逆差總額的60%；汽車貿易逆差為117億。因此，貨物貿易不平衡是雙方發揮各自產業競爭優勢的情況下市場自主選擇Second,itisafairreflectionofthecomplementarityandcomparativestrengthsofandUSindustries.Intermsoftrademix,’stradesurpluswiththeUSmainlycomesfromlabor-intensiveproductsandmanufacturedgoods,anditstradedeficitwiththeUSliesincapital-andtechnology-intensiveproductssuchasaircraft,integratedcircuits,a