US trade with China has grown enormously in recent decades and is crucial for both countries. Today, China is one of the largest export markets for US goods. The relationship between the two countries has evolved significantly over the years, shaped by geopolitical, economic, and cultural factors.
In a new book, Made in China, historian Elizabeth O'Brien Ingleson explains how corporate America began reconceptualizing trade with China in the 1970s. This marked the beginning of a new era in US-China trade relations, as American businesses saw the potential for growth and expansion in the Chinese market.
The United States bought more goods from Mexico than China in 2023 for the first time in 20 years, evidence of how much global trade patterns have shifted. This shift underscores the importance of understanding the dynamic nature of trade relations between countries and the need for adaptation to changing market conditions.
In 2018, former President Donald Trump started a trade war with the world involving multiple battles with China as well as American allies. This period of heightened tensions had a significant impact on US-China trade relations, leading to increased tariffs and disruptions in global supply chains.
Some of the steep U.S. tariff increases on an array of Chinese imports, including electric vehicles and their batteries, computer chips, and more, further strained the relationship between the two countries. These trade barriers created challenges for businesses on both sides and highlighted the complex nature of international trade.
The canny marketing of imports from vodka to basketballs transformed the US-China trade relationship. This shift in consumer behavior and preferences played a role in shaping the trade dynamics between the two countries, highlighting the importance of understanding market trends in international trade.
The de-dollarization of China's trade settlements has begun. What patterns do we see in USD and RMB use within China and globally? This shift in currency usage reflects China's growing influence in the global economy and its efforts to diversify trade relationships beyond traditional Western markets.
The governor of China's central bank said on Wednesday that it may start trading soon in the secondary bond market. This development signals China's continued efforts to enhance its financial infrastructure and expand its role in global trade and finance.
