Trade policy and Economic development in China

This essay will research the relationship between the United States and China in regards to trading policies . A brief of the United States ' foreign policy will be given and following this an examination of the US-China trade relation will be analyzed with historical background ranging from 1979 to present . In the development of this essay . The context of the research will center around the four

's in trading power , principles , prosperity and peace and how in each area China has maintained such variables in trading . The other issues that will be

delivered as integral to the relationship of US-China trade will be the US-Soviet relations in regards to the China Card , Tiananmen Square , human rights , and labor standards China 's Trade

The concept of trade between countries is one that has been prevalent since the shipping industry of early China . In fact China and its role with the WTO is one in which there exists strain . China became a member of the WTO in December of 2001 . China had been an original member of GATT (General Agreement on Tariffs and Trade ) but has since declined any efforts towards globalization . However , since its inclusion with the WTO in 2001 China is under specific WTO regulations . These regulations are highlighted as nondiscrimination in trading policies , market opening , transparency and predictability , undistorted trade , and preferential treatment towards developing countries

China 's economy can truly be seen as open since the late 1970 's . Thus in the early 1980 's China became less sequestered which is proven with its membership of Taiwan Province of China in the IMF as well as the World Bank which further emphasizes China 's transformation from a centrally organized economy to a more market-oriented economy , as such China , abolished trade plans , decentralized trade , slashed tariffs unified the dual exchange rates in 1994 , and removed exchange controls on current account transactions in 1996 (Adhikari Yang 2002 . Other reforms also took place in China , and corresponding with this transformation China has witnessed an influx of foreign trade as well as investments . In accordance with this statement China 's foreign trade is reported to have gone from 10 billion in the late 1970 's to 278 billion in the year 2000 . The numbers for the year 2000 made China the sixth largest trading nation on a global scale , The trade-to-GDP ration increased from 10 percent at the beginning of reforms to about 40 percent in the late 1990 's . China 's investment (FDI ) reached 47 billion in 2000 , second in size only to those received by the United States (Adhikari Yang 2002

China 's open trading policy began in the 1970 's with Mao Zedong 's meeting with then US president Richard Nixon . The next stage of China 's development occurred in 1979 with Deng Xiaoping 's visit to the US . This is when China began to truly embrace foreign trade this boosted China 's own domestic economy and allowed the country to compete on a global scale in the...