What China buys from us are high tech goods and agricultural and other commodities.
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But punters must look beyond the handful of listed companies in the NICs that actually produce high-tech goods, mostly electronics.
Second, American businesses lobby for a softer line and for rule-changes at home to allow them to sell more in China, particularly for high-tech goods previously controlled on security grounds.
Where once the West relied on China's lack of environmental enforcement to tamp down rare-earth prices and implicitly subsidize high-tech goods, in the future the nature of the subsidy will change so that China's cheap(er) labor will subsidize Western mid-tech goods.
Manufacturers of small high-tech electronics goods, where freight costs account for a tiny fraction of the retail price, may not be that bothered about hedging freight rates.
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Meanwhile, China is moving up the value chain into high-tech capital goods and is poised to account for about a third of global manufacturing of advanced machinery and equipment within a decade, from about 8% today, Mr. Zhu said.
They want high tech, high fashion goods Made in the U.S.A. That is a fact.
This has also meant the arrival on the world scene of multinational firms from emerging countries in sectors such as automobile manufacturing, consumer goods and high-tech industries like aircraft manufacturing.
Infrastructure and high tech will get the nod, while consumer goods may get the axe.
Of the few mentions of industries, the most notable is the rapid adoption of iPad devices with sales forces, most prevalent in legal, financial services, consumer goods, life sciences and high-tech industries.
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