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Turning the tables over trade
HOME > PAST ISSUE > PERSPECTIVE [Premium content]April 2006
From US$793 million worth of business at a 1972 trade fair to US$763 billion in exports last year, it has taken China a generation to usurp the US and dominate trade.
When American businessmen were first invited to the Canton Trade Fair in 1972, there was patronizing talk of selling a billion aspirins a year to the downtrodden Chinese and perhaps buying a few T-shirts in return. Who could have conceived that, within hardly more than a generation, the US would be struggling under the yoke of a US$200 billion trade deficit with China? Not me for sure.
I reported on the fair back then for the South China Morning Post - and a fascinating event ...
I reported on the fair back then for the South China Morning Post - and a fascinating event ...
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