WASHINGTON — U.S. high-technology exports plummeted 26 percent between 2000 and 2002, while China became the biggest supplier of electronics to the United States, according to an industry study released Thursday (June 19).
AeA, formerly the American Electronics Association, reported that U.S. exports fell to $166 billion in 2002. Cumulatively, the U.S. is running a record $54 billion high-tech trade deficit as of the end of last year, the group said.
China, meanwhile, has replaced Japan and Mexico as the largest supplier of electronics to the U.S. market. AeA said its findings show that "international trade in high-tech services is playing an increasingly important role" in the global economy.
A report on Chinese R&D centers released earlier this week also stressed the importance of globalization in the evolution of U.S.-China R&D.
