The most persuasive explanation of the growing bilateral def

The most persuasive explanation of the growing bilateral deficit is the increasing role of China as the final assembler in Asia-wide production networks.Over the past two decades,the production process for a growing range of manufactured goods has become increasingly disaggregated on a geographical basis.Each country serves as the location for the portion of the process in which it has the strongest comparative advantage.Higher-income,more technologically advanced countries like the United States have come to specialize in producing high value-added parts and components.China,with its large pool of workers available for unskilled labor-intensive operations,has increasingly become the location of choice for the final assembly of a broad range of goods,especially electronic and information technology products.
Goods that are assembled from imported parts and components now account for about 55 percent of China’s total exports and about 65 percent of the goods China exports to the United States.When these goods are exported from China to the United States,their entire value is counted by US Customs as imports from China.On average,however,about two-thirds of the value of these so-called processed exports in fact originates outside China,mostly in other Asian countries.
China’s rise as the point of final assembly of a broad range of manufactured goods is reflected in the sharp decline over the past two decades in the share of the US bilateral trade imbalance that originates in other Asian countries (especially Hong Kong,Taiwan,Korea,and Japan).As these countries have moved manufacturing capacity to China—and,in the case of Japanese autos,to the United States—the share of the US trade deficit that they account for has fallen by two-thirds,from more than 50 percent in 1985 to only 16 percent in 2004,while China’s share has risen from nothing to about one quarter.The United States must understand that it will continue to run a sizable bilateral deficit with China,as recorded in the conventional statistics,largely because of the growing internationalization of production with China as the final assembly point for many products.

最有说服力的日益增长的贸易逆差的解释是,中国作为最终的角色在亚洲生产网络中汇编.在过去的二十年,生产工艺的不断增长的范围的制成品越来越基于地理基础上.每个国家作为的位置的过程,在这个过程中,它具有最强的比较优势.Higher-income更先进的国家,如美国来专业生产高附加值的部件和组件.中国,大部分的工人的劳动密集型操作,可供笨拙的位置已经日益成为首选的总装范围广泛的产品,特别是电子与信息技术产品.

货物进口零部件装配和元件占目前大约有55%的中国出口总额约百分之六十五的货物,中国对美国的出口.当这些货物从中国出口到美国,他们全部的值是被美国海关为从中国进口.平均来说,然而,大约三分之二的价值,这些所谓的加工出口实际上来源于中国境外,主要在亚洲其他国家.

中国的崛起作为最终装配宽范围的制成品反映在急剧下降,在过去的二十年中所占的比例美国双边贸易不平衡,源自于其他亚洲国家(尤其是香港、台湾、韩国、日本等).当这些国家已经移到国内生产能力,在日本的汽车,美国——分享的美国的贸易赤字,他们已经下降了三分之二的人占50%以上,从1985年到2004年仅16个百分点,而中国的份额已经从没有大约四分之一.美国必须明白它将继续保持一定规模的双边贸易逆差,记录在中国传统的统计,在很大程度上是因为日益国际化的生产与中国的许多产品最终集散地.