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According to Lawrence J. Lau, a major cause of the deterioration is the growing battle between China and the United States for global economic and technological dominance. More generally, he argues, "It is also a reflection of the rise of populism, isolationism, nationalism and protectionism almost everywhere in the world, including in the US."
An economic conflict between China and the United States has been ongoing since January 2018, when U.S. president Donald Trump began setting tariffs and other trade barriers on China with the goal of forcing it to make changes to what the U.S. says are longstanding unfair trade practices and intellectual property theft. [1]
After Deng Xiaoping took power in 1978, the term referred to China's policy of opening up to foreign business that wanted to invest in the country, which set into motion the economic transformation of modern China. [citation needed] Uncle Sam (United States) rejects force and violence and ask "fair field and no favor," equal opportunity for all ...
The U.S. no longer boasts the world's largest economy. China, the world's most populous country, has overtaken America to claim the title of world's number one economic powerhouse, according to ...
The Group of Two (G-2 or G2) is a hypothetical and an informal grouping made up of the United States of America and People's Republic of China that was first proposed by C. Fred Bergsten and subsequently others. [1] [2] While the original concept had a strong economic focus, more recent iterations have a more all-encompassing focus. [3]
China's accession to the WTO meant that it had to liberalize its economy, and reduce state interference, which boosted the efficiency of Chinese exporters. [17] As China already had "most-favored nation" (MFN) status since the 1980s in Europe and the United States, WTO accession did not lead to lower trade barriers. [17]
An exclusive Reuters analysis of U.N. trade data from 2015-2021 shows that outside of Mexico, the top U.S. trade partner, China has overtaken the United States in Latin America and widened the gap ...
Jia said China’s economy had expanded sufficiently since then to support the issuance of Treasury bond financing between four trillion to 10 trillion yuan.