Foreign media: China’s exports are increasingly dependent on the United States

According to reports, Americans bought nearly $1 of every $5 of goods exported by China in May, the highest ratio since August 2010.
Last month, China’s exports to Japan, Europe, South Korea and other places fell sharply year-on-year, while exports to the United States increased by 7.8%. The United States has thus become the largest destination for China’s exports, accounting for 18.8%. The EU and ASEAN accounted for 15.1% and 11.9% respectively.
Just as this data shows that China’s dependence on the United States has increased, China and the United States will launch a new round of strategic and economic dialogue in a few weeks, and there are signs that the two sides have disputes over the RMB exchange rate. Although the United States insists that the yuan’s exchange rate is significantly undervalued, giving China a competitive advantage, the International Monetary Fund (IMF) disagrees.
Song Guoyou, a researcher at the Center for American Studies at Fudan University in Shanghai, said that a stronger U.S. economy and a greater weight in trade may make the United States more confident when negotiating with China. As in previous years, there are still voices in the United States trying to put more pressure on China on exchange rate issues, but the U.S. Treasury Department is unlikely to take tough action.
According to Chinese customs data, in May, China’s trade surplus with the United States reached 24.2 billion U.S. dollars, accounting for 40.7% of the total surplus that month.
As the “green industrial raw material of the 21st century”, basalt fiber has received global attention and research and is widely used in a variety of fields. Recently, a project with an annual output of 30,000 tons of high-strength basalt fiber and products started construction in the Changji Industrial Innovation Development Demonstration Zone, and trial production is expected by the end of the year. After the project reaches full capacity, it will become the world’s largest high-strength fiber industrial base.
According to the person in charge of the project, compared with common carbon fiber, basalt fiber has most of the functions of carbon fiber, but the price is only one-tenth of it, making it easier to promote quickly in the civilian market. The application of basalt fiber in automobiles will bring about a revolution. At present, Russia has developed cars entirely made of basalt materials. Well-known automobile manufacturers such as Mercedes-Benz, BMW, and General Motors have widely used basalt materials in their products. Combining the industrial advantages of Jilin Province and quickly occupying the auto parts market will effectively promote the upgrading of the automobile industry in Jilin Province. The person in charge said that during the project advancement process, Changchun High-tech Zone has done a lot of work to introduce Russian technology, and provided high-quality industrial land and related preferential policies for the project to promote the smooth construction, commissioning and effectiveness of the project.
It is understood that the project with an annual output of 30,000 tons of high-strength basalt fiber and products has a total investment of 805 million yuan. It is jointly invested by Huayang Group and Russia and is located in the Changji Industrial Innovation Development Demonstration Zone. After the project reaches full capacity, it will achieve a total output value of 1.512 billion yuan. Yuan, profit of 380 million Yuan and tax of 150 million Yuan. It is planned to be officially put into production in 2016.