The Political System Of China

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History The United States and China have a long history when it comes to how they settled developed International Trade Agreements. Back in 1844 the first treaty was established for open ports for trader which allowed the United States to begin to trade with China. The United States started to bring in goods, these goods consisted of: coins; ginseng; furs. The most prominently were cotton, silk, porcelain, and lacquerware. Up until the modern Free Trade Agreement we have today, there were several iterations from 1844 until now that restricted or expanded trade between the United States and China. The difference between the political system of China and the United States in relation to International Trade. China’s political system which…show more content…
The American economy is based on a Market Economy. A Market Economy” is where economic decisions are made by the free market”.( (Kimberly Amadeo,2014) .When it comes to foreign trade the United States government allows other countries to import goods into the country, we export many goods to other countries with the government only imposing tariffs, but not much other intervention. Ethical norms between China and the United States. “ Every culture and nation has its own values, history, customs and traditions, thus it has developed own ethical values and understanding of ethical principles; There is no international ethical code of conduct, accepted and followed by all the countries; There is a lack of governments’ initiative to create ethical cooperation framework and thus to enhance ethical behavior in international business; It is hard to outline those ethical values which would be understandable, acceptable and important for representatives of all the continents simultaneously within different types of international cooperation projects”. ( carlo scevola, mba, 1995-2015) China’s ethical norms would consist of shaming, a white lie is not frowned upon to save someone’s shaming. Another important norm in China is one must have the correct authority also known as ”Guanxi”. Foreign countries need to keep these norms in the front of their minds when trading with China. In the United States the ethical
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