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Foreign Trade with China Essay

Project id 1012177
Subject area Writing
Document type Essay
Words 3281
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From the 1970s, there has been a wave of liberalization in China, which was released by Deng Xiaoping. This is only one of the critical reasons to the growth of China to become among the financial giants on the planet. In the previous 25 decades of the century, the Chinese economy has had enormous economic growth, which has been 9.5 percent on annually. This has been of excellent significance of the country since it quadrupled the gross domestic product (GDP) of the nation thus resulting in conserving of 400 million of their citizens from the threats of poverty. In the late 1970s, China was ranked twentieth in terms of trade volumes in the entire world as well as being called to be the world's greatest nation concerning trading actions (Kaplan, 53). This further called the country to capture the highest GDP growth in the entire world. The enormous gain in the Chinese trading associations has been fueled by the United States from the calendar year 1979 through the standard trade relations between the two countries. Additionally, the Chinese non-concession to the World Trade Organization (WTO) from the calendar year 2001 also eased its trading activities by different countries such as the United States (Kaplan, 57). However, trading relations with the Chinese have been uncomfortable leading to the gigantic trade imbalances from the recent past, which grows exponentially. The protectionist policies of the United States especially in Washington and Beijing have been placing pressure on the Chinese to revalue their currency as well as shielding it against counterfeits, which might be of adverse consequences to the trading relations. This paper gives an extensive discussion on the foreign exchange relations with china. It further provides an elaborate discussion on the impacts of overseas tr...

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