World Trade Organization: U.S. Companies' Views on China's Implementation of Its Commitments Page: 49 of 61
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Appendix III
Profile of U.S. Investment and lrade with
ChinaFigure 9: Stock of U.S. Direct Investment Worldwide, 2002 ($1.5 trillion)
1%
Utilities
3%
Professional, scientific and technical services
4%
Information
Mining
Wholesale trade
Finance and depository institutions
(except insurance)
Manufacturing
Other industriesSource: GAO.
Notes:
Investment in this figure is U.S. direct investment position abroad on a historical-cost basis.
The U.S. Bureau of Economic Analysis has modified its industry classifications used for U.S. direct
investment abroad since GAO's September 2002 report, GAO-02-1056. Therefore, a direct
comparison between the statistics on U.S. investment abroad by industry presented in that report and
the information provided in this figure cannot be made.
The industry classifications used in this figure do not correspond directly with the industry classification
used in our questionnaire. For example, our questionnaire included firms classified as agriculture.
However, these firms may have investments in China in wholesale trade (of agricultural products) and
manufacturing (of fertilizers, processed foods, or other agriculturally related products). In addition,
because of the limited number of responses that we received, the companies that did respond to our
questionnaire in each area do not constitute a representative sample of their overall industry group.U.S. Trade with China
U.S. trade in goods and services with China has also grown significantly
during the past decade. From 1993 to 2002, U.S. exports to China grew at an
average annual rate of 12 percent, compared with 5 percent for U.S.
exports worldwide during the same time period. Similarly, U.S. imports
from China grew at an average annual rate of 17 percent, while overall U.S.
imports grew at 8 percent annually. Consequently, China was the U.S.'s
fourth largest trading partner in 2002 (after Canada, Mexico, and Japan),GAO-04-508 China Business Views
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United States. General Accounting Office. World Trade Organization: U.S. Companies' Views on China's Implementation of Its Commitments, report, March 24, 2004; Washington D.C.. (https://digital.library.unt.edu/ark:/67531/metadc298401/m1/49/: accessed April 19, 2024), University of North Texas Libraries, UNT Digital Library, https://digital.library.unt.edu; crediting UNT Libraries Government Documents Department.