The United States¡¦ Trade Relationship with china and Japan
Since 1950s, Japan and the United States have had trade interactions which mutually benefited their economies, but took many steps and hardships to get to the dominating level where they are now. On the other side, China and the US have taken careful steps to open their markets to each other and normalize trade relations with the ending of economic isolationism after the Cultural Revolution. Globalization brings both advantages and disadvantages to the world. It is interesting that US supposed to get most benefits from globalization due to the US has strongest economic power in the word. However, the US has formed large deficits during the past decades while developing trade relations with China and Japan. The paper will focus on US trade relationship with China and Japan and how the US payoff these deficits.
Expanding US trade with China: Issues, Obstacles, Consequences and Imbalances
A trade relationship was also built between the US and another Asian country, China. Throughout the past twenty years, many issues and obstacles have also been overcome in expanding trade with China.
Since the ¡§open door¡¨ policy in the late 1970s, successful trade and investment with China has been a common goal among American businesses. Along the way, there have been many issues and obstacles to overcome as a business relationship with China has been formed. In light of consideration for China¡¦s membership in the WTO, there are still issues to be dealt with and examined. Through the development of an economic relationship with China, we will attempt to examine the causes and impact of trade imbalances with China, as well as implications of the imbalances and plans for dealing with them in the future.
In the 19 ...