This paper uses cointegration analysis method to
estimate the correlation between China’s per-capita consumption expenditure and
the amount of soybean imported from the United States. It is found that
importing soy from the United States can reduce China’s per capita consumption
expenditure. There is a long-term equilibrium between the per capita consumption
expenditure and the imports of soybean native to the United States. In the
short term, one of them can have a lasting impact on the other.