HOUSTON, March 9 (Xinhua)-- Collaborative transfer of technology through trade is beneficial to all countries, a U.S. economist has said.
James DeNicco, director of the Principles of Economics Program and lecturer at Rice University, told Xinhua in an interview on Friday.
"Transfers of technology through trade are considered one of the big benefits of trade. We can all learn from each other, become more efficient and raise the wellbeing of all of our people," he said.
Taking the medical industry as an example, DeNicco said, the United States leads in innovation in the medical field with life-saving drugs and medical technology. Trading such technology with other countries could not only help them obtain drugs, but also help them learn from that technology and come up with their own drugs.
"So collaborative transfers of technology, collaborative trade are really good for all countries," he said. "It helps countries develop, it helps countries become more competitive and raise the wealth for their own people."
DeNicco also expressed the hope that U.S.-China technology and economic collaboration will continue to grow so as to benefit both countries.
"I think the collaboration is important. And if you can keep that collaborative environment where we feel like everybody is benefiting from both sides, it's an amazing thing," he said.
