The US and China had always been in a bilateral economic relationship wherein the two parties have involvement in trade and commerce. Just recently, US President Trump has devised an agreement that will further connect the two in different industries. The trade in technology has been introduced wherein American firms can now spread their reach in terms of e-payments to the Chinese. This type of service allows the transactions of US and China to be quite easier and accessible to the many. Another trade that has been opened for the two nations are the importation of US beef to China. It has been on hold for more than a decade since the mad cow outbreak in the States.
For this year, China is now opening the possibility for more exchange of goods depending on the reaction and acceptance of the Chinese to foreign meat. However, restrictions are present in the biotechnology and energy industries. China has refused to import these products due to the redundancy of resources. Although this may be beneficial to the US, it cannot be forecasted that the results would be on a positive note in a short amount of time.
The trade between China and US is limited to a number of products and resources only. Even though this can be considered of better impact to the different industries, it does not resolve the issues. President Trump has not tackled the standards and policies; more importantly, the protection among the companies residing in a different country. It may create a whirl for the implementation though beneficial to a number of US and China industries. Perhaps it is a concrete plan for the Trump administration; to obtain more investors and secure its great economy. Although it does not hit beyond the surface of trade, only time would tell whether the bilateral economic relationship will remain.
China has always been keen in the investments they allow to enter their premises; this does not exclude the US. Furthermore, with the good news that they have allowed certain products and services to enter China, people can only look forward to more initiatives to expand trade with the US. Their economic relationship has improved for the past 10 years but also, considering that they are near to overpowering the US, greater strategy and hitting the right industries will create a boom to any of the two biggest economies.
Even before, China can be considered to occupy a strategic location in South East Asia. This allows them control over the Asia-Pacific region aside from possessing the greatest power in the area. Decades ago, there have been American businesses that already existed in China. But a strike that occurred between the Japan and China affected their operations. The Nanjing Massacre was a historical event that caused the death of innocent civilians and military including Americans residing in China. Even with the presence of Safety Zone in the City of Nanjing, Japanese troops displayed violence through rape. Most recently, Japan denied the records of the Nanjing Massacre as they released in publications and that caused an uproar in China. Meanwhile, the World War II happened only a year after the Nanjing Massacre, China and US have been allies during all the battles they took.
The US and China have grown and evolved to become the strongest economies in the world. Though they are not at war, they also are not allies in the present. The current battle that they are facing is in terms of the economy most especially because China has been fast evolving and catching up with the statistics that keeps the US on greatest power.
Comments are closed.