China-US trade in 2010 and 2011, when the world economy experienced a hard, vulnerable recovery from global financial crisis in 2009, witnessed solid job creation results in both China and the US. Two way trade and investment creates jobs in both countries According to China Customs data, total China-US trade hit $446.7 billion, an increase [...]
Since the collapse of Lehman Brothers and the ensuing tsunami from Wall Street that almost swamped the financial world in 2008, China has been busy signing bilateral currency swap agreements in order to minimize the exposure of holding too many dollars. Such swap agreements allow the two signatory nations to do business with each other [...]
Recently, the Wall Street Journal carried an article entitled, “How Much Harm Chinese Goods Can Do to America?”, relating three American researchers’ assumption that the import of Chinese goods would wreak far more economic havoc on America than imagined. They even queried the validity of the basic international trade theory —the comparative advantage theory. What [...]
Today, fears are growing that China and India are about to be the next victims of the ongoing global economic carnage. This would have enormous consequences. Asia’s developing and newly industrialized economies grew at an 8.5% average annual rate over 2010-11 – nearly triple the 3% growth elsewhere in the world. If China and India [...]
In his January 24 State of the Union address, President Barack Obama announced plans to create a trade enforcement unit to investigate unfair trading practices by other countries, prevent counterfeit or unsafe goods from entering the U.S., and ensure that no foreign company has an advantage over American manufacturing when it comes to accessing financing [...]
Nobel laureate Robert Mundell once stated that “great powers have great currencies.” Few geopolitical observers today would deny that China has now achieved great power status. Yet, if the overall size of the Chinese economy, its position as the world’s leading official creditor, its stature as a powerhouse exporter, and its growing military capacity all [...]
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