US Economic Relations with China

US Economic Relations with China

This paper describes the economic relations between the United States and the People's Republic of China in the emerging global economic power in the 21st century. The People's Republic of China is the 2nd most populous country with a population density of about 1,32,185,1888 for a rate of 140 persons per kilometer.

China is a communist country and has enjoyed great influence on the world countries, immediately after his accession to the World Trade Organization. The government is rotating around a single Communist Party, which has successfully held power since 1949, when the great leader Mao Zedong declared China as a Communist state. China has a literacy rate of 90.9 percent.

According to estimates for 2007, China's gross domestic product (GDP) is $3.251 trillion, making it fourth in the list of countries with the highest GDP. This is quite incredible that while the negotiations for the accession of China to the World Trade Organization (WTO) largely depends on the deficit that the United States is working to trade with China, the actual size of the US-China bilateral trade deficit1 actually do not know!, United States puts the 2008 bilateral trade deficit of $ 20 billion, while China puts it at $ 9 billion. If the figures put forwarded by United States are correct, then China has the second largest bilateral deficit, after Japan, whose bilateral trade deficit with the United States is $ 59 billion. But if in China the figure is correct, then China bilateral trade deficit is lower than in the U.S. bilateral trade deficits in Canada, Mexico, Germany and Taiwan.

In response, supporters to ease entry conditions for China emphasized other factors (e.g., moving from low-skill, labor intensive manufacturing industries to China from neighboring countries) for the recent expansion of the bilateral ...