U.S. China Trade and Business Issues

Paper Summary:

"China's trade surplus with the U.S. last year swelled to $124 billion up from $103 billion a year earlier. And the strength of its manufacturing sector in everything from clothing to TVs means that it is being blamed for the woes of U.S. workers." (Taken from Business Week, 12th April, 2004) This paper comments on this statement and assesses the trading and business issues between the U.S.A. and China, including the pressure for China to open its domestic markets to foreign competition, especially since joining the World Trade Organisation.

From the Paper:

"Globalization has driven trade and business engagements between the United States and China to unprecedented levels, creating an economic interdependence not seen before. China is now the United States' second largest source of imports and the largest trade deficit partner. China's growing economic prowess is regarded by many as the cause of higher unemployment in the United States and US entrepreneurs express frustrations over access into the Chinese market. Despite improving political relations between these two nations, US - China relations have entered into a new phase in which issues of trade, economics and finance traditionally considered among the most positive and beneficial aspects of the relationship have increasingly become matters of dispute and friction."

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