While China and the United States have seen an uptick in the number of complaints brought before the World Trade Organization as well as outside actions increasing trade conflict, there are steps both nations may take to increase cooperation and remain competitive.
While avoiding the label of “currency manipulator,” China’s currency, the renminbi, continues to face criticism by the US Treasury Department for being “significantly undervalued.” Now, an analysis of global trade data seeks to end the correlation between trade surplus and currency exchange rates.
With Obama’s victory in re-election, his vehement campaign is over. However, his harsh bashing of China during his campaign will remain in the hearts of the Chinese people, leading to concerns about the future of China-US trade relations during his second term.
Increasingly harsh rhetoric and combative trade actions between China and the US have given rise to the belief both countries are inevitably headed toward a new Cold-War style confrontation. However this outdated Cold-War framework does not take into account the full extent of China-US ties and the shared incentives both countries have in seeing the other succeed.
With China’s economy slowing in recent months and the US economic recovery still sluggish, both countries have emphasized trade as a means of promoting and sustaining growth. While the possibility of economic friction between China and the US certainly exists, increasing trade does not need to be a zero sum game.
Last week at the Democratic National Convention, held in Charlotte, North Carolina, a woman peddling bumper stickers outside the event's venue shouted to passers-by: "Not Made in China". I turned back and gave her a questioning look. I asked myself: Should I try to debate her? At the convention itself, various speakers talked of "stopping [...]
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