International Trade Between China and the United States

Paper Summary:

This paper provides an evaluation of future international trading prospects between China, the United States and other countries through the event of the visit made by Chinese president Jiang Zemin?s to the U.S. in October, 2002. The development of political relations and foreign trade between China and the U.S. in the past few decades is analysed through a review of the developments in trading for both China and the U.S., the improvement of political and foreign trade relations between the two countries, the U.S. investment in China, China?s entry into the World Trade Organisation and the recent improvement of political relations between the two countries. A recommendation for further improvement of the relationship between the two nations is also given.

From the Paper:

"Except for the period of rapid growth of Sino-Soviet trade in the 1950s, China, in the Maoist era, pursued relatively autarkic trade and financial policies. During the 1960s, when the trade of both developing and industrialised economies was growing rapidly, China's trade was actually shrinking in real terms. Initially, that was a response to the severing of the Sino-Soviet economic relationship and the collapse of the domestic economy as a result of the economically ill-fated strategy of the Great Leap Forward. But later, as domestic growth resumed, it reflected the autarky of the Cultural Revolution, when all but one of China's ambassadors were recalled from their posts and China turned inwards."

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