Position statement
China, like other major emerging markets, is very important to IBM's future growth, currently growing at over 20% a year. The US-China bilateral relationship remains an important yet complex one. IBM China has been actively engaging the Chinese government to highlight the benefits for China of more open markets and to support China's efforts to modernize its economy. At the same time, IBM has been working through trade associations in China, the U.S. and the E.U. to underscore the need for open markets, transparency, respect for intellectual property and a level playing field for trade.
Since WTO accession, China has conducted comprehensive trade reforms that opened key services sectors to foreign participants, improved trade policy predictability, and expanded China's foreign markets. According to the World Bank, Chinese global cross-border services exports grew from $5.7 billion in 1990 to $62 billion in 2004. China's exports in travel, IT and communication services were especially strong. U.S. crossborder exports to China also increased, rising by 61% from $5.6 billion in 2001 to $9 billion in 2005.
With a burgeoning middle-class and a fast-growing economy, China represents a growing market for exporters from the U.S. and around the world. While there are challenges to address in the U.S.-China economic relationship, IBM believes that constructive engagement between the countries offers the best path forward. IBM is working closely with U.S. and Chinese government counterparts to make contributions to the ongoing US-China Strategic Economic Dialogue (SED) and the Joint Commission on Commerce and Trade (JCCT).
