U.S. agriculture has a big stake in an expanded trade relationship with China. A recent analysis projects that China’s imports of oilseeds (chiefly soybeans) are expected to rise by 40% over the next 10 years — accounting for a whopping 59% of global trade.
It is called “the most important economic partnership in the world,” that between the U.S. and China. Today, they are each other’s second-largest trading partners. But, says a report by the China-U.S. Exchange Foundation (CUSEF), if the two economies are to continue to have a healthy relationship there needs to be “a new direction in economic development in order to provide sustainable growth and employment for their people.”
The path forward “begins with an acknowledgement that the development of the overall relationship between the two countries is constrained by mistrust and differences in important global strategic issues,” the report notes. “It is therefore imperative that mutual trust be built up and strategic differences be managed and addressed.”
U.S. agriculture has a big stake in an expanded trade relationship with China.
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