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Essay / Research Paper Abstract
A 3 page paper discussing the balance of trade between the US and China. The US-China Business Council states that China is the fastest-growing of all of US export markets and that those exports serve to prevent an even wider trade deficit with China. China currently has price controls in place on some food items, gasoline and other basics, but even with those controls food overall has increased 21 percent from 2007 to 2008. Both the US and China may be forced to acknowledge the true state of their currencies to gain a full picture of their current state of trade. Bibliography lists 8 sources.
Page Count:
3 pages (~225 words per page)
File: CC6_KSintTrdDef08.rtf
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Unformatted sample text from the term paper:
is trying mightily to convince observers that the US-China trade imbalance is slowing in its growth, and indeed US exports to China increase 301 percent in 2007 (US-China Trade in
Context, 2008). China remains the US trading partner with the greatest trade imbalance, however (Top Ten Countries with which the U.S. has a Trade Deficit, 2008). GDP
Chinas total GDP based on exchange rate was estimated to be $3.251 trillion in 2007; $7.099 trillion on purchasing power parity (China, 2008). Chinas
GDP grew at 11.9 percent in 2007, but growth declined to 10.1 percent in 2008 (China Balance of Trade, n.d.). "By the end of 2008, China is predicted (measured
by exchange rate) to overtake Germany as the third largest economy, and to overtake Japan by 2020. It would then overtake the US by 2040 to become the worlds largest
economy" (China Balance of Trade, n.d.). In the US, "Current-dollar GDP ... increased 4.1 percent, or $143.7 billion, in the second quarter to
a level of $14,294.5 billion. In the first quarter, current-dollar GDP increased 3.5 percent, or $119.6 billion" (Gross Domestic Product, 2008). Trade Balances
Chinas "Exports to the U.S. rose 9.9 percent in the first seven months of 2008 from a year earlier after gaining 8.9 percent in the first half. Those to
the European Union increased 27.1 percent after climbing 27 percent. Shipments to Japan rose 15.9 percent after increasing 15.1 percent" (China Balance of Trade, n.d.). Amazingly, China "raised export
tax rebates for garments and textiles to protect jobs after economic growth slowed for a fourth quarter to 10.1 percent in the three months through June" (China Balance of Trade,
...