US- China Trade Imbalance, Who to Blame for?
analytical Essay
1178 words
“Made in China” is a label we can find nearly every product in the US consumer market, moreover the world market. The products that are made-in-China replaced the made-in USA gradually and nowadays it is hard to find the products which are not made in China, all over the world. The US was the biggest supporter of the growth in Chinese Economy and the National power, unintentionally. China was able to take over world’s processing industry because America gave up the industry. It allowed China to become the world number one merchandise manufacturer in these days. As their Economy grew, the China’s national power grew up as well. Now, China is one of the world’s economic leaders as well as the United States of America. Though, as the process of Chinese economic and national power grow, an intricate conflict with America has begun; as a root of trade imbalance. The trade deficit of China caused economic depression in the States and the citizens blamed China for all the accompanied issues. However, China did not stir up the economic, racial and politic issues that America faced.
According to the U.S Department of Commerce, in January of this year American imported $ 38,187 million and exported $ 10,357 million already made $27, 839 deficit in 2014. The total trade deficit was $318,417 million in 2013, when it was $226,877million in 2009 and $ 162.254 million in 2005. The imbalance has been rose every year henceforth China became the member of the World Trade Organization (WTO) in 2001, the Chinese economy was growing by 18% each year when the US below 3%. Confronting the trade imbalance with a developing country is not the first time for the US. As the precedent, American consumable market was the driving force of the Japanese econo...
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...ney-and-banking/china-us-debt-situation/v/china-buys-us-bonds>.
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Roya , Woverson, and Alessi Chirstopher. "Confronting U.S-China Economic Imbalances." Council on Foreign Relations. (2011): n. page. Web. 23 Mar. 2014. .
Zhong , Shan. "U.S.-China Trade Is Win-Win Game."Embassy of the Poeple's Republic of China in the United State of America. n. page. Web. 23 Mar. 2014. .
In this essay, the author
- Explains that the us was the biggest supporter of the growth in chinese economy and the national power, unintentionally. china's trade deficit caused economic depression in the states.
- Explains that the trade imbalance with china is not the first time for the us.
- Explains that the us-china trade issues are dissimilar to the case of japan. china has been taking over the unwanted jobs of the american.
- Analyzes how the us-china trade exacerbated the trade imbalance. the us economy collapsed due to us trade deficits with china.
- Analyzes how the reformed immigration bill was helpful, but it created racial issues that the multi-ethnicity country, america never solved.
- Opines that the us needs to respond to the situation and find the solution to confront the serious trade deficit with china.
- Explains that china buys us bonds, citing henry, grabar, robert, woverson, and chirstopher.
Related
- opinionated
- argumentative
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In this essay, the author
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- Opines that the consequences of losing the global economic contest are very real. wealth contributes directly to a country's global power, and affords influence as well as security.
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- Opines that china's entry into the world trade organization is an economic boon and mutually beneficial for those involved. however, trade with china has economically compromised america.
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- Explains that outsourcing is a tempting proposition for profit-driven companies seeking to optimize net gains by minimizing expenses. it has caused the loss of an estimated 2.7 million u.s. jobs between 2001 and 2011.
- Opines that china and america are inextricably tied at the economic level, but the relationship has proven to be to the detriment of america's economy.
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- Cites scott, robert e., "the china toll." economic policy institute, 23 aug. 2012. web. 8 dec. 2013.
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In this essay, the author
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784 wordsRead More