Friday, February 17, 2012
Governor Jerry Brown said China will be home to two California trade offices within the next eight months. Brown made the announcement after meeting with Chinese Vice President Xi Jinping in Los Angeles Friday.
Tim Robertson with the California Fair Trade Coalition said the meeting and announcement are encouraging. He hopes they lead to a narrowing of the state's one-hundred billion dollar trade imbalance with China.
"We're concerned about the way China behaves as a trading partner through currency manipulation, lowered wages and environmental standards, and mercantilistic practice. In General, we're very concerned that what we're going to see is a much larger increase in imports than we do in exports," said Robertson.
Brown said China could provide more than two trillion dollars in investments in the United States within the next ten years. The trade offices will be in Beijing and Shanghai.