The essay will discuss Chinese economic policies and the US recognition of China’s market economy. In the past, china maintained economic policies that made the economy to remain stagnant and poor. However, when it opened up to foreign trade and investment, it became one of the fastest growing economies. The maturing of China’s economy has led to a slowed GDP growth over recent years. Notably, the Chinese government has made innovation its first priority though a number of new initiatives. The US can provide a market for China’s innovation and benefit greatly. The essay will help in understanding various Chinese economic policies and US recognition of China’s market economy.
Chinese economic policies and US recognition of China’s market economy
IMPACT OF CHINESE ECONOMY ON US ECONOMY
The impact of chines economy on the economy of US has been tremendous; China is the most populous country in the world and has the second-largest economy after the US. However, its GDP is not a true reflection of the wealth of the country. The country ranks in position 29 for GDP per capita which is almost $15,000. Primarily, China is the third-largest partner of the US according to the US trade representative. China’s economy has an intricate link with the US due to their sharing of the second-largest trading partnership. The article highlights the Chinese economic policies and US recognition of China’s market economy.
impact of the Chinese economy on the US economy
US RECOGNITION OF CHINAS MARKET ECONOMY AND CHINESE ECONOMY
The US recognition of China’s market economy is important due to the trading relationship and China’s innovation. China joined the World Trade Organization after long talks with more than 160 members granting it nondiscriminatory tariff treatment. Therefore, China agreed to oversee numerous steps to open itself to investment markets and global trade. China believed that partners such as the US would revoke its nonmarket status in 2016. The US has concerns that granting the status of the Chinese market reduces its access to address special trade policies on imports. Lastly, the Chinese economic policies and US recognition of China’s market economy are essential in understanding trade between the countries.
US recognition of China’s market economy and the Chinese economy
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