New York, NY, October 01, 2010 --(PR.com
)-- China has replaced Mexico as the top supplier of goods to the United States, and experts say that a specific trade strategy is needed for this Latin American country to compete successfully with Beijing in the U.S. market, the world's largest. Its impact will be highlighted at Golden Networking's 2nd China Leaders Forum, "Is the Chinese Dragon Poised for Global Dominance or Economic Implosion?" (http://www.ChinaLeadersForum.com), October 6th, New York City.
As reported by Inter Press Service," Since 2003, China rather than Mexico has been the chief source of U.S. imports, a situation maintained by the artificially low value of China's currency, the yuan, which drives that country's exports, according to local and international analysts. The U.S. Department of Commerce reported Tuesday that China had a trade surplus of 16.5 billion dollars with the United States in February, having sold 23.4 billion dollars' worth of goods and purchased 6.9 billion dollars' worth. Mexico also had a positive trade balance with the United States, of 4.8 billion dollars in February, with exports worth 16.4 billion dollars and imports worth 11.6 billion dollars from its northern neighbor, according to the report."
"Mexico prides itself on being the 'world champion' of trade agreements, having signed 38, with countries on every continent. In contrast, China has used its increasing weight as a world power to consolidate and diversify its markets, without turning its back on trade liberalization programmes. To date it has seven free trade agreements in operation, the most recent one implemented in March with Peru, while four more are being negotiated. Economically, the two countries are at very different levels. Mexico was hit hard by the global economic crisis that originated in the United States in 2008, while China was only slightly affected. In 2009, Mexico's GDP fell by nearly seven percent, while China's grew by 7.9 percent."
2nd China Leaders Forum is produced by GoldenNetworking.net (http://www.goldennetworking.net), the premier networking community for business executives, entrepreneurs, investors and diplomats, founded by former McKinsey consultant and Columbia Business School MBA Edgar Perez.