1 steven lee myers why china is confident it can beat

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1. Steven Lee Myers, Why China is Confident it Can Beat Trump in a Trade War ”, The New York Times, April 5, 2018, available at: world/asia/china - trade - war - trump - tariffs.html
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US - CHINA Trade War: Analyses of Deeper Nuances and Wider Implications 4 Curbing the state - backed high - tech sectors that form the core of Bei- jing s Made in China 2025’ strategy. The US and China are the two biggest economies in the world. A trade war would have very serious repercussions all over the world. It could derail the current global economic expansion and cripple American businesses that depend on business with China. It could also further complicate geopolitical priorities given the Trump administration has enlisted the help of the Chinese in solving the crisis with North Korea. US - China Trade Relations The US - China trade rose rapidly after the two nations re - established diplomatic relations in January 1979, signed a bilateral trade agreement in July 1979 and provided mutual most favoured nation (MFN) treatment, beginning in 1980. In that year (which was shortly after China s economic reforms began), the total US - China trade (exports plus imports) was approximately $4 billion. In 2017, the total US merchandise trade with China was $636 billion, making China the US largest trading partner. 2 US Merchandise Trade with China The US Merchandise Exports to China The US merchandise exports to China in 2017 were $115.6 billion. China was the third - largest US merchandise export market after Canada and Mexico. China was the second - largest US agricultural export market in 2017, at $19.6 billion, 63 percent of which consisted of soybeans. The top merchandise US exports to China in 2017 were: 2. Wayne M. Morrison, China - US Trade Issues ”, April 16, 2018, available at:
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US - CHINA Trade War: Analyses of Deeper Nuances and Wider Implications 5 Aerospace products (mainly civilian aircraft and parts) Oil seeds and grains (mainly soybeans) Motor vehicles Semiconductors and electronic components Waste and scrap Many trade analysts argue that China could prove to be a much more significant market for US exports in the future. China is one of the world s fastest growing economies. Healthy economic growth is projected to continue in the years ahead, provided that it implements new comprehensive economic reforms. China s goals of modernising its infrastructure, rebalancing the economy, upgrad- ing industries, boosting the services sector and enhancing the social safety net could generate substantial new demand for foreign goods and services. Major US Exports to China in 2017
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US - CHINA Trade War: Analyses of Deeper Nuances and Wider Implications 6 Economic growth has improved the purchasing power of Chinese citizens considerably, especially those living in urban areas along the east coast of China.
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