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Unformatted text preview: China’s economy entered into the world market because the United States tried to open it to free trade by letting China use its markets, capital, and technology. This backfired on the United States when China only took advantage of free trade when it would benefit their country. The success in the global market for china has given the Chinese government more power and increases nationalism. This has caused a huge trade imbalance between China and the US. US corporations are still investing in China because of the cheap labor and this is not changing. Because of this there might be a trade war and Bowring is urging the Obama administration to take action before this gets out of the United States’ hands. http://www.nytimes.com/2010/02/04/opinion/04iht-edbowring.html...
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This note was uploaded on 07/21/2010 for the course ECO 001 taught by Professor Melkonian during the Spring '10 term at Hofstra University.
- Spring '10