美国经济从对华服务贸易和投资中得到的好处【外文翻译】

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1、本科毕业论文外文翻译 题目 :Us Economy Benefits from Service Trade and Investment with China 出处 :ChinaBusinessReview,Vol.34,Issue3, May/June2007, Page: 46-47 作者： Britton, Erik； Rossi, Vanessa 原 文 : Since the 20th century70 years, the rapid development of international trade in services, have been expanding this

2、rapidly developing trend has continued ever since. Currently, the service trade accounts for a quarter of the entire international trade is expected to 30 years of this century, the proportion of trade in services will be roughly the same share of trade in goods, even more than the share of trade in

3、 goods. Services and level of development of trade in services has become a measure of a country is one important indicator of the level of modernization, the economic focus of competition is also shifted from trade in goods trade in services. The United States is the worlds largest exporter of serv

4、ices and is well positioned to benefit from Chinas rapidly growing demand for services. US service sector exports to China grew more than twice as fast as US total service sector exports between 1992 and 2005, at an average annual rate of 14.5 percent (in current prices). That growth was faster than

5、 the growth of service sector exports to any other major economy over that period(including India, at 12.7 percent per year).As a result, US service sector exports to China, at $9.1 billion in 2005, now account for 2.4 percent of US service sector exports, up from 1.0 percent in 1992. China is alrea

6、dy one of the top ten destinations for US private service sector exports, and the United States is already a net exporter of a broad range of services to China: The United States had a services trade surplus with China of $2.6 billion in 2005. Since the reform and opening up service trade in China h

7、as been developing rapidly though, but the overall level of development is not high, is incompatible with the development of Chinas national economy, as opposed to industrial countries, Chinas share of world trade in services is relatively low share of trade in services, 80 of the last century years

8、, Chinas service trade exports accounted for the proportion of world trade in services exports has been hovering around 1%, since the late 90s, the proportion was high rise. Chinas service trade export in 2007 of the worlds total services exports rose to 3.9% increase over 2006 O. 5 percentage point

9、s. Chinas service trade development depends very much on the development of Chinas service industry. The average growth rate of Chinas service industry 15.4%, although higher than the world growth over the same period the level of trade in services, but the horizontal comparison of the level of deve

10、lopment Chinas service industry is very backward. U.S. service sector compared with China in various sector development in good shape. The United States in the financial, proprietary rights and license to use, education, culture, entertainment and other important areas of trade in services are to ma

11、intain the absolute leading edge, and highly competitive world. In the U.S., services account for the proportion of GDP has reached 83%, 85% of creating employment opportunities, and services exports accounted for only 28% of its GDP, which means that exports of U.S. trade in services has great pote

12、ntial. So the United States complain that the goods trade deficit, while foreign market access when they are talking about around their services exports. And Chinas service trade exports are mainly concentrated in tourism, foreign project contracting and other business services and other traditional

13、 labor-intensive sectors, while the rapid development of global trade in financial services, insurance, consulting, patent services, technology-intensive, knowledge-intensive and capital-intensive service sector in China is still in development stage, the development level is not high, less competit

14、ive. On the whole, Chinas service trade competitiveness is weak. Chinas Service Trade Competitiveness Index has been negative, indicating that Chinas service trade in the overall comparative disadvantage, the international trade in services less competitive. Only in the tourism, construction, other

15、commercial services trade has a slight advantage, while the U.S. index from the 80 years since the TC has maintained an upward trend in 2007, O. 15, with a strong international competitiveness. Both trade and investment flows between the United States and China in service industries have an impact o

16、n the current account of the balance of payments and, as a result, on US GDP. In 2005, in addition to the bilateral services trade surplus of $2.6 billion, US affiliates in China repatriated profits worth $3.3 billion Of that, around 17 percent, or $560 million, is attributable to service sector aff

17、iliates in China. Together, service exports to China, along with repatriated service sector profits from China, contributed a net $3.1 billion to US GDP in 2005, slightly reducing the bilateral current account deficit with China. US net exports of services to China make a direct contribution to US G

18、DP in the short term via the current account of the balance of payments. In the long run, the overall net trade position is determined by such factors as the appetite for savings in the United States, compared to other countries, and its magnitude will not be affected by bilateral trade flows with a

19、ny single country. There is, however, another way in which US service sector net exports to China can make a permanent contribution to US GDP. Indeed, service sector net exports to China support employment in relatively high-productivity and high-wage sectors of the US economy. According to Oxford E

20、conomics Ltd. estimates for 2005, net exports of “other private services” to China support a net number of roughly37,000 high-productivity jobs in the United States. This provides a permanent boost to US GDP, worth around $460 million in 2005. Chinas implementation of its World Trade Organization (W

21、TO) commitments will continue to benefit the United States in the future. In the baseline forecast, in which China honors all of its WTO service commitments, US service sector exports to China will increase to $45billion by 2015, while the US surplus on services trade with China will increase to $15

22、 billion, or 0.1 percent of US GDP. On top of that, inflows of net income from US service sector affiliates in China will increase to around $1.5 billion by 2015.And the impacts on US productivity will also increase, as service sector trade and investment in China contribute a projected $2.5 billion

23、 to US GDP in 2015.The growth in service sector net trade with China and inflows of profits from service sector investments in China together will also support more rapid growth in service sector employment in the United States. In the baseline forecast, these effects combine to create an additional

24、 60,000 service sector jobs in the United States by 2015.If the outstanding impediments to service sector growth in China were fully removed, the bilateral services trades surplus with China would increase to around $60 billion by 2015, supplemented by extra income derived from US service-related in

25、vestments in China worth $7 billion. This would boost US GDP in the short term by about 0.3 percent. The average US household would be better off by about $500 per year in 2010 as a result of this growth in services trade with China. The removal of all impediments to growth in services trade and inv

26、estment with China would also create up to 240,000high-paying US service sector jobs by2015, accounting for 1.5 percent of the growth in US service sector employment between 2005 and 2015. The effects in 2015 do not capture the long-run impact of services trade and investment with China on the US ec

27、onomy. The Chinese market for services will have grown substantially by 2015, but the real focus of US service providers should be on a longer horizon, one that spans the decades to come. By 2050, US service sector exports to China could reach between 1.5 percent and 3.5 percent of US GDP. By then,

28、of course, Chinas service sector exports will also have grown, but the US surplus on service sector trade with China still could be flows of profits from US service sector FDI in China could contribute a further 0.5 percent of GDP to the US current account of the balance of payments. Net services tr

29、ade with China supports relatively high-productivity jobs in the United States, and the impact of this trade on the composition of US employment leads to higher average productivity and, therefore, higher GDP in the long run. The impact on US productivity via this channel could be worth 0.1 percent

30、to 0.2 percent of US GDP in the long run: a substantial effect. This scenario clearly projects long-run benefits for the United States. For these benefits to develop fully, however, the market barriers in Chinas service sector must be dismantled completely. We cannot judge the profits gained by one

31、country only from the merchandise trade imbalance in BOP in these days with economy globalization. In order to demonstrate this opinion, this thesis studies the complex economic and trade relationship including goods trade， commercial trade and FDI between China and the USA The results are as follow

32、s： China has a surplus from USA in merchandise trade，but the America has absolute advantages in the field of international services and outgoing investment What is more， to a certain extent the deceleration of import from America results from the increase of AFDI Therefore， the USA attains more interests from the bilateral economic and trade relationship， that is： surplus in China, Profit in America