Effect Of Accession On Textile Trade Between China And U.s. Essay

Effect Of Accession On Textile Trade Between China And U.s. Essay

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1. China is one of the largest textiles producing and exporting countries in the world. Textile industry, as a labor-intensive industry with high foreign trade dependence degree, has made considerable contributions to China’s relatively stable employment and foreign exchange reserves. Correspondingly, due to keen demand, the U.S. needs to import magnanimous textiles. Therefore, enormous textile trade between China and U.S. seems logical. Nonetheless, because of some trade barriers like quotas, U.S’s textile import from China used to keep at a relatively lower level.
2. The WTO is an intergovernmental organization, which regulates international trades and oversees the implementation, administration and operation of the covered agreements. After China entering into the WTO, U.S. reduced lots of trade barriers according to the WTO’s principals. China gained better access to one of the world’s largest textile market.
B. Thesis Statement
1. In this paper, I will focus on the effect of accession to the WTO on textile trade between China and U.S.
a). First, I will analysis how per capita output of cloth products in China has increased.
b). Second, I will explore how China’s degree of openness (value of total imports and exports divide by GDP) has increased.
c). Finally and also most importantly, I will figure out how U.S’s textile imports from China have increased.

II. Main Arguments
A. With the development of economic globalization and trade liberalization, degree of openness has gradually become a momentous factor that affects countries’ economy. On account of “Protocol on the Accession of the People 's Republic of China” and the WTO’s principals, China’s degree of openness is expected to rise after entering into the WTO. (This argu...

... middle of paper ...

... total import of all goods [United States Census Bureau]
C. The GDP and value of total imports and exports of China [National Bureau of Statistics of China]
D. The per capita output of cloth products in China [National Bureau of Statistics of China]
E. The price of import textile in U.S. [Office of Textiles and Apparel]
F. Employment in manufacturing [Bureau of Labor Statistics]
G. Wage in manufacturing [Bureau of Labor Statistics] [National Bureau of Statistics of China]

V. Conclusion
In this paper I have shown that the development of textile trade between China and U.S and analyzed that the WTO played a vital role in textile trade between China and U.S. The data and the graphs imply the comparative advantage on China, which is more productive than U.S. in textile. Therefore, China has kept a prolonged tremendous positive trade surplus in textile trade between U.S.

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