Some US senators have recently blamed China for the Sino-US trade deficit hitting a new high last year and have proposed placing a 27.5 per cent tariff on all Chinese products if China does not revalue the yuan.

　　They believe that if China had appreciated its currency， the US deficit problem would have been solved. But it is unfair to blame China when one considers the following facts.

　　Does China export too many products to the United States？ No. According to US statistics， since 1994 Canada has been the biggest exporter to the United States. In 2004 Canada's exports to the United States amounted to US$ 256 billion， 30 per cent greater than China's. The second and the third largest exporters to the US market were Japan and Mexico before 2003. China became the second largest after 2003.

　　The reason why the trade gap between the United States and China is so big is that US exports to China are far less than those sent to Canada， Mexico and Japan.

　　The Chinese Government has not manipulated its currency exchange rate to limit imports from any country， including the United States. According to Chinese customs statistics， China had a trade surplus of about US$32 billion in 2004. Considering US trade statistics， it could be implied that China had a huge trade deficit of US$130 billion with the rest of the world. In 2004 China's imports from Asia accounted for about 66 per cent of its total imports， while imports from the United States were only 8 per cent of the total. China had huge trade deficits with South Korea， Japan， and ASEAN nations. Plus the mainland's trade dificits with its island province of Taiwan， the total reached about US$127 billion.

　　Since China opened to the outside world in 1978 and has been shifting from a planned economy to a market economy， more and more foreign direct investment （FDI） has come into China. The import and export conditions in China have changed a lot. Foreign-funded companies in China have driven the main part of the Chinese import and export markets. In 2004， import and export values of foreign-funded companies accounted for about 60 per cent of the country's total trade volume.

　　FDI in China mainly came from Asian markets， such as those in Japan， South Korea， Singapore as well as from Taiwan， which realized FDI of US$16.8 billion in 2004， nearly 50 per cent of the country's total （except FDI from Hong Kong and the Virgin Islands）。

　　Those overseas-funded companies aimed their money at not only the rapidly growing Chinese market with its 1.3 billion consumers but also at the country's lower labour costs.

　　In 2003， US high-tech exports to China were 10 per cent of the Chinese total high-tech imports， ranking as just the fifth largest source of China's imports of such goods.

　　The conclusion is clear： The reason for the US trade deficit with China is not about China's currency exchange rate. The key problem is some American policies which cause US manufacturers to lose their comparative advantages to other exporters.

　　If the United States truly wishes to compete on a fair and open playing field， it should review its policies， including its erroneous trade policies regarding China， rather than simply making China a scapegoat. To place tariffs on all Chinese products will only hurt the interest of both countries.

　　有些美國(guó)參議員最近指責(zé)中國(guó)說(shuō)，去年中美貿(mào)易赤字創(chuàng)新高，如果中國(guó)不調(diào)整人民幣幣值的話，建議對(duì)所有中國(guó)的產(chǎn)品加收27.5%的關(guān)稅。

　　他們認(rèn)為，若人民幣升值，美國(guó)的赤字問題就會(huì)得到解決。然而，如果考慮到下列事實(shí)情況，對(duì)中國(guó)的指責(zé)是不公平的。

　　中國(guó)出口到美國(guó)的產(chǎn)品太多了嗎？不。據(jù)美國(guó)的統(tǒng)計(jì)資料，1994年以來(lái)，加拿大是美國(guó)的最大出口商。2004年，加拿大出口美國(guó)的金額達(dá)2560億美元，超出中國(guó)出口美國(guó)的金額30%.2003年之前，美國(guó)市場(chǎng)的第二和第三大出口商是日本和墨西哥。2003年以后，中國(guó)才成為美國(guó)市場(chǎng)的第二大出口商。

　　造成中美貿(mào)易差距那么大的原因是美國(guó)對(duì)中國(guó)的出口遠(yuǎn)遠(yuǎn)小于美國(guó)對(duì)加拿大、墨西哥和日本。

　　中國(guó)政府沒有調(diào)整貨幣匯率，以限制從任何國(guó)家（包括從美國(guó)）的進(jìn)口。據(jù)中國(guó)海關(guān)的統(tǒng)計(jì)資料，2004年中國(guó)的貿(mào)易盈余達(dá)到320億美元左右。再看美國(guó)的貿(mào)易統(tǒng)計(jì)資料，資料顯示中國(guó)對(duì)美國(guó)的貿(mào)易赤字與中國(guó)對(duì)世界其他國(guó)家的貿(mào)易赤字達(dá)1300億美元之巨。2004年中國(guó)從亞洲的進(jìn)口約占進(jìn)口總額的66%，而從美國(guó)的進(jìn)口只占進(jìn)口總額的8%.中國(guó)與南朝鮮、日本及東盟各國(guó)的貿(mào)易赤字很高，加之大陸與臺(tái)灣省的貿(mào)易赤字，總額達(dá)1270億美元左右。

　　自從1978年中國(guó)對(duì)外開放以來(lái)，從計(jì)劃經(jīng)濟(jì)向市場(chǎng)經(jīng)濟(jì)轉(zhuǎn)變，越來(lái)越多的外國(guó)直接投資（FDI）進(jìn)入中國(guó)，中國(guó)的進(jìn)出口情況有了很大的改變。中國(guó)的外資企業(yè)占據(jù)了中國(guó)進(jìn)出口市場(chǎng)的主要部分。2004年，外資企業(yè)的進(jìn)出口值約占中國(guó)貿(mào)易總額的60%.

　　中國(guó)的外國(guó)直接投資（FDI）主要來(lái)自亞洲市場(chǎng)，如日本、南朝鮮、新加坡及臺(tái)灣等國(guó)的市場(chǎng)，2004年實(shí)現(xiàn)外國(guó)直接投資（FDI）168億美元，占全國(guó)總額近50%（來(lái)自香港和維爾京群島的外國(guó)直接投資除外）。

　　這些海外獨(dú)資公司不僅把資金投向擁有13億消費(fèi)者的迅猛發(fā)展的中國(guó)市場(chǎng)，而且投向中國(guó)低廉的勞動(dòng)力成本。

　　2003年，美國(guó)對(duì)中國(guó)的高技術(shù)出口占中國(guó)高技術(shù)進(jìn)口總額的10%，排在中國(guó)進(jìn)口此類貨物資源的第五位。

　　結(jié)論很清楚：美國(guó)與中國(guó)產(chǎn)生貿(mào)易赤字的原因并不是與中國(guó)貨幣匯率有關(guān)的問題。關(guān)鍵的問題是一些美國(guó)的政策使得美國(guó)的制造商失去了他們對(duì)其他出口商的比較優(yōu)勢(shì)。

　　若美國(guó)真的希望在一個(gè)公開、開放的競(jìng)技場(chǎng)上展開競(jìng)爭(zhēng)，應(yīng)該重新審視其政策，包括涉及中國(guó)的錯(cuò)誤貿(mào)易政策，而不能簡(jiǎn)單的把中國(guó)當(dāng)作替罪羊。對(duì)所有中國(guó)產(chǎn)品加收關(guān)稅只會(huì)傷害兩國(guó)人民的利益。