Trade Patterns Of Usa And China

2343 Words10 Pages
1. Introduction The following paper coherently illustrates the trade patterns of USA and China and describes the various trade policies developed over the past years that have impacted the respective economies of both countries alongside the effect of the same on the bilateral trade relations between the two. Based upon the previous statistics, US-China trade is considerably one of the largest trading partners in today’s economies. Both countries’ trade relations entail exchange of investment, services as well as goods varying from agricultural products to non-agricultural products. Currently, China is the second-largest trading partner, third-largest export market and the biggest source of imports for the United States. The U.S.…show more content…
The various parts of this essay are organized as follows: In section 2, we discuss the historical background of the trade patterns of two identified countries being analyzed. It states the recent trade patterns of US-China and recent developments of trade policies since China’s WTO accession in 2001. Section 3 will provide an in-depth analysis of various economics policies adopted by both countries and critically discuss their contribution to the aspect under analysis in section 2. In section 4, we provide with theoretical evidence to support the argument provided in the previously reviewed empirical findings depicting the impact of trade policies over the trade pattern of US-China. Section 5 concludes the essay by highlighting our key findings and policy implications and provides US on this trade perspective on how to improve the trade relations by addressing to the arising disputes with China. 2. US-China trade patterns Evolution of US trade relations with China. China has been transforming into a rapidly growing economy ever since the trade reforms began in 1979 and upon its further entry into the World Trade Organization (WTO) on December 11, 2001 as the 143rd member, China’s trade liberalization and global trade commitments made at that time augmented the expansion in U.S.-China marketable ties (Morrison, 2015). The most significant clause of this WTO enterprise that proved to be beneficial for US was China’s unanimity to
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