Abstract
Economic cooperation with the US has played an important role in the development of Chinese enterprises, with bilateral trade bringing great benefits to both sides. Foreign capital, including capital from the US, has helped to build up China’s manufacturing base. At the same time, the US has become a popular investment destination for globalizing Chinese enterprises. However, the trade dispute that began in 2017 has cast a shadow over relations between the world’s two largest economies. Drawing on ongoing research into China-US economic relations, intersviews and seminars with key experts, and findings from Track II diplomacy engagements in the US, this chapter traces the background of China-US economic relations and the development and impacts of the trade dispute from 2017 to 2020. In addition, it also outlines suggestions for enterprises and policymakers to mitigate its adverse effects and put China-US commercial ties back on a steadier footing.
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Notes
- 1.
Data from the Ministry of Commerce of China.
- 2.
US-China FDI data from Rhodium Group’s US-China Investment Hub, www.us-china-fdi.com.
- 3.
Arthur Kroeber, “An Irresistible Trade Policy Meets Immovable Interests,” Gavekal Dragonomics, September 12, 2018.
- 4.
US-China FDI data from Rhodium Group’s US-China Investment Hub, www.us-china-fdi.com.
- 5.
“Understanding the US-China Trade Relationship,” US-China Business Councill, Oxford Economics, January 2017.
- 6.
Research Report on China-US Economic and Trade Relations, Ministry of Commerce of China, May 25, 2017.
- 7.
2018 Annual Bluebook on Development of Chinese Students Studying Abroad, Center for China and Globalization (CCG).
- 8.
On August 14, 2017, President Trump signed an executive memorandum authorizing the US Trade Representative to investigate China’s trade practices under Sect. 301 of the U.S. Trade Act of 1974. On August 18 of the same year, the Office of the United States Trade Representative (USTR) issued a Notice of Filing to formally launch a 301 investigation against China. The investigation focuses on China’s laws, policies and practices related to technology transfer, intellectual property rights and innovation. This includes fields as intellectual property protection, two-way investment, industrial policy, innovation policy, cybersecurity, and government procurement.
- 9.
Rhodium Group, “Two-Way Street—US-China Investment Trends”—2020 Update.
- 10.
“Trade War: Will US espionage fears scupper Chinese rail group?” Financial Times, June 20, 2019.
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Center for China and Globalization (CCG). (2023). Globalization Amidst China-US Trade Frictions. In: Wang, H., Miao, L. (eds) Strategies for Chinese Enterprises Going Global. The Chinese Enterprise Globalization Series. Springer, Singapore. https://doi.org/10.1007/978-981-19-6120-5_8
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DOI: https://doi.org/10.1007/978-981-19-6120-5_8
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