Bumpy ride for Sino-US trade

The development of Sino-US trade is a mutually beneficial arrangement, because the world's two largest economies are highly complementary with their trade volume growing to $484.7 billion in 2012.

Sino-US trade relations have to be developed to tap potential bilateral economic opportunities and enable more reasonable allocation of resources for the two countries. Quality and inexpensive products exported by China have benefited American consumers and helped create the necessary conditions for the United States' transformation into a service-oriented economy. Conversely, China has benefited immensely from the growing demand for its products from American consumers.

Of course, the burgeoning trade between the two economic giants has led to some imbalance and frictions. But they are the natural offshoots of increasing Sino-US trade. According to official US figures, its trade deficit with China has increased to $315 billion. This enormous trade deficit, however, can be attributed to a variety of factors.