What many fail to realize is the increasing importance exports play to the backbone of our economy - I am referring to SMEs. And SMEs make up over 97 percent of all of our firms that export. SMEs have not only play a major role in our export expansion, they have also proven to be its main beneficiary. Overall, they accounted for 30 percent of all U.S. exports in 1997. When we look at our exports to China, SMEs are no less significant.
Lets look at some of the facts.
China is a significant and growing export market for SMEs - the 10th largest in 1997 up from 12th in 1992. China's WTO accession will be significantly benefit American SMEs in two ways. First it binds the largest emerging market in the world to the rules of the road in trade. Second, it significantly improves the business environment within China. Both of these factors are very important to small business.