America and China

866 Words4 Pages
National economics are often adversarial in nature, a global contest where countries seek to gain advantage over their neighbors, all in the name of wealth and gain. America is no stranger to the game; the U.S. has been the world’s economic leader for the better part of a century. China, however, is the leading contender for the economic top-spot (), and America continues playing directly into China’s hand. America’s current trading posture with China is drastically skewed in China’s favor; if America is going to preserve its position as the leading economic power, existing U.S.-Chinese trading agreements will need to be revised, and additional regulations must be introduced to promote balanced dealing. The consequences of losing the global economic contest are very real. Both sides of the political fence would likely agree, money is of utmost importance to the continued operation of the country. To a nation, money is more than just a functioning government with all the security and support it provides, money is more than the livelihoods of citizens who seek to work and feed their families. Wealth contributes directly to a country’s global power, and affords influence as well as security. If a wealthy nation is a powerful nation, the loss of wealth can herald the loss of power. Globalization, a fundamentally constructive revolution, is the catalyst driving the current situation. On the international level, globalization creates jobs, promotes trade, and encourages cooperation between countries. The interconnected nature of national economies creates a net that not only helps sustain troubled economies, but actually discourages international hostilities by introducing an additional layer of reciprocity. Through globalizat... ... middle of paper ... ...is." CATO Journal 33.1 (2013): 77-89. Business Source Complete. Web. 8 Dec. 2013. "Obama Announces Creation of Trade Enforcement Unit." Foreign Policy Bulletin 22.2 (2012): 144-57. ProQuest. Web. 8 Dec. 2013. Sheng, Shirley Ye, and Ma Yan. "China Vs. the United States: Market Connections and Trade Relations." International Journal of China Marketing 2.1 (2011): 45-57. ProQuest. Web. 8 Dec. 2013. Scott, Robert E. “The China Toll.” Economic Policy Institute. 23 Aug. 2012. Web. 8 Dec. 2013. http://www.epi.org/publication/bp345-china-growing-trade-deficit-cost/ U.S. Census Bureau. “Trade in Goods with China.” U.S. International Trade Data. U.S. Census Bureau. 2013. Web. 8 Dec. 2013. http://www.census.gov/foreign-trade/balance/c5700.html “Becoming Number One.” The Economist. The Economist Newspaper Limited. 2013. Web. 8 Dec. 2013. http://www.economist.com/node/21528987
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