China's own numbers for the trade deficit with the U.S. are substantially lower, at about $70 billion for merchandise trade in 2002.
As described later in this book, Chinese apparel exports will pick up sharply in the coming years due to the expiration of the multifiber agreement and other factors.
N. R. Lardy, “United States-China Ties: Reassessing the Economic Relationship,” Testimony before the House Committee on International Relations, U.S. House of Representatives, Washington D.C., 21 October 2003.
From instructions by Daniel Webster to Caleb Cushing, his emissary to China, whose mission resulted in the Treaty of Wanghia, signed on July 3, 1844. Annals of American History.
K. Mazurewich, “With New ...