China ‘supports millions of American jobs, makes big profits for US firms’, Beijing says

Both sides have benefited from trade ties, white paper says in response to accusations that China is trying to undermine rival’s manufacturing base

China’s trade and investment with the United States supports millions of American jobs and creates huge profits for its companies, Beijing said this week in a bid to counter Donald Trump’s claims that the country is stealing jobs and eroding the US manufacturing base.

Citing figures from US sources, Beijing said in a white paper released on Monday that both countries had benefited from their trade links. Observers, however, said the document reflected only Beijing’s view of the trade war and failed to tackle issues of concern to American businesses.

According to figures from the US-China Business Council cited in the white paper, US exports to China and bilateral investment supported 2.6 million jobs in America in 2015, while Chinese investment in 46 US states created more than 140,000 jobs, mostly in the manufacturing sector.

more at US-China trade war