A new study by the Bush Administration reports that although the US trade deficit with China continues to rise, US exports to China are actually increasing at a faster rate than China imports to the US. US exports to China were up 28% as compared to 2003, while imports were up 22% from January to November 2004, the report stated, while pointing out that the export growth is arising from a much smaller base. The report also said the gain in China's imports partly reflects declining exports from other Pacific Rim countries, as companies in those countries have moved their final assembly operations to China.
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