Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
The relationship between china and the u.s
The relationship between China and us
China and United States relationships
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Recommended: The relationship between china and the u.s
Have you ever been laid off due to your company relocating to China? Are you fed up with the United States losing jobs and large companies to China? Would you like to see more money and products being produced in the United States? The United States trade deficit with China hit all time highs. It's time to fix these problems, it's time to bring wealth and jobs back into the United States. There are many proposals introduced throughout our nation to solve theses issues, but I believe only one will work. Implementing tariffs on China is economically smart, it would help bring more money in to the United States, and help create more jobs.
A tariff in basic terms, is essentially a tax that a nation will put on its imports coming from a certain nation.Tariffs are used by governments to generate revenue or to protect domestic industries from competition. Countries charge different tariffs rates depending on the industry they are trying to protect. Here is an example on how a tariffs works, Company XYZ produces pencils in Japan and exports the pencils, which costs $5 per pencil, to the United States. A 20% tariff would require Company XYZ to pay the U.S. government $1 to export the pencil into the United States. With this tax, the company XYZ has to pay more just to sell their pencil in the United States than their own country.
…show more content…
For example the United states collects this revenue to support all the ecomicallal functions of the country. Creating more revenue from tariffs is definitely a benefit for such a country. As of 2008, customs and import duties account for approximately 2 percent of government revenue. However, the small percentage brought in by import tariffs equal a hefty 29.2 billion dollars. Imagine if you were to implement a larger tariff you would see the revenue increase significantly. With more revenue you can help decrease the United States debt which would help strengthen the U.S.
Protectionism is the theory or practice of shielding a country's domestic industries from foreign competition by taxing imports. Between 2000 and 2008 the value of world trade in goods and services rose by 12% a year. However since the global recession in 2008 the value of world trade in goods and services has substantially decreased.
It has to do with eliminating barriers that are put in place to protect the producers in a country. The barriers that countries implement include tariffs and taxes, quotas, rules and regulations and government subsidies or tax breaks (pg 58). The primary goal of a trade agreement is to lower these barriers so that any international company involved in the agreement(s) can be competitive in another country that is also involved in the agreement(s). One of the key features of the TPP agreement is to eliminate tariffs and some of the other barriers in order to create new opportunities for workers and businesses and to also benefit
In a protectionist position, the government is aiming to ensure American businesses and at the same time decrease the amount of sales of foreign business. The fastest method for accomplishing this task is to increase tariffs, as in taxes on foreign goods coming into the country.... ... middle of paper ... ...
After the construction of the newly ratified Constitution, one of the heaviest economic duty was the the inherited debt from the revolutionary war with Great Britain. In order to help relieve these debts, a collective and protective tariff was created in order to help the Federal government collect revenue in order to pay off the debt. The tariff taxed goods imported into the United States from any foreign nations, in example the tax would charge 10 cents per gallon of wine, and so on with other goods imported. Forward with the goal of paying off debt, the taxes were also linked in protecting American manufacturers from foreign competition. After the war a great deal of the American market relied on imported British seeing to the lack of domestic
The current trade imbalance is caused in large part by intrinsic features of China's labor market and consumer base. The vast majority of China's 1.3 billion people still live in rural areas. China has, by some estimates, a surplus rural labor force of 120 million people, many of whom migrate to industrial centers to look for factory work, and drive down wages. As long as wages are low, the United States will continue to gobble up products made in China, while Chinese consumers will prefer to buy cheaper, homespun alternatives to American products. The rise in trade deficit with China has come at a cost to jobs in the United States, accordin...
China's record of human rights violations is long and mind-boggling. Atrocities such as purging tens of millions of people during the Cultural Revolution, its infamous one-child-per-couple Population Policy, persistent oppression of Tibet and the bloody June 4 massacre at Tienanmen Square in 1989 have given the Chinese government a reputation of having little respect for human life. And yet, despite its tarnished record, China maintains its Most Favoured Nation trade status with the US and is one of Canada's top ten recipients of bilateral trade. As supposed supporters of human rights, Canadian and US governments have developed hypocritical attitudes toward China, compromising ethical values for material gain. Instead, North American nations should restrict aid and trade with China to programs that can be used to encourage social reforms.
The United States has for over two centuries been involved in the growing world economy. While the U.S. post revolutionary war sought to protect itself from outside influences has since the great depression and world war two looked to break trade restrictions. The United States role in the global economy has grown throughout the 20th century and as a result of several historical events has adopted positions of both benefactor and dependent. The United States trade policy has over time shifted from isolationist protectionism to a commitment to establishing world-wide free trade. Free trade enterprise has developed and grown through organizations such as the WTO and NAFTA. The U.S. in order to obtain its free trade desires has implemented a number of policies that can be examined for both their benefits and flaws. Several trade policies exist as options to the United States, among these fair trade and free trade policies dominate the world economic market. In order to achieve economic growth the United States has a duty to maintain a global trade policy that benefits both domestic workers and industry. While free trade gives opportunities to large industries and wealthy corporate investors the American worker suffers job instability and lower wages. However fair trade policies that protect America’s workers do not help foster wide economic growth. The United States must then engage in economic trade policies that both protect the United States founding principles and secure for tomorrow greater economic stability.
Tariffs are a crucial part of America’s history, as they are necessary for a society to run because the revenue gained from duties help fund a variety of things, such as education, technology, health care, defense, national debt, and the list goes on. However, taxes have been debated on whether or not it is constitutional because people claim that the taxes do not represent the people. Investing in tariffs do grant Americans benefits, but on the contrary, forcing too many duties causes economic issues, which causes anger amongst the citizens. Such is the case in the Nullification Crisis, where John Quincy Adams issued a protective tariff protecting the southern economy from British competition. While the Tariff of 1828 did accomplish its given
From the 1970s, there has been a wave of liberalization in China, which was introduced by Deng Xiaoping. This is one of the key reasons to the rise of China to be one of the economic giants in the world. In the last 25 years of the century, the Chinese economy has had massive economic growth, which has been 9.5 percent on a yearly basis. This has been of great significance of the country since it quadrupled the gross domestic product (GDP) of the country thus leading to saving 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 whole world as well as being predicted to be the world’s top nation concerning trading activities (Kaplan, 53). This further predicted the country to record the highest GDP growth in the whole world.
...es currently does possess an enormous trade deficit, but the importance of this problem and the best means of solving it is a sharply debated issue. Clearly, while a return to protectionist policy would have some positive effects in the short run, it ultimately would undue the enormous growth that free international trade has caused for the US economy. The more moderate approach, of increasing domestic capital, reducing reliance upon foreign money and goods, and reducing government spending, deals with the situation much more effectively. A deficit is often times natural, especially in a wealthy country with a very strong economy, such as the US. Using these techniques, the negative aspects of the deficit can be overcome, while still ensuring the efficiency and affectivity of a liberal international trade system.
Supporters believe that the more FTAs a country has, the more profitable it will be. The reason being, the country has the capacity and capability to produce products cheaply that are in demand which means it can import products cheaply which is all good for the economy.
...side of any trade partner with China because of its desire for cheap labor which has cost America countless manufacturing jobs (Rendell) and thus, making China a worthy adversary to claim number one spot for the world’s best economy.
With the end of the Cold War emerged two superpowers: The United States and the Soviet Union. The international system then was considered bipolar, a system where power is distributed in which two states have the majority of military, economic, and cultural influence both internationally and regionally. In this case, spheres of influence developed, meaning Western and democratic states fell under the influence of U.S. while most communist states were under the influence of the Soviet Union. Today, the international system is no longer bipolar, since only one superpower can exist, and indisputably that nation is the United States. However China is encroaching on this title with their rapid growth educationally, economically, and militaristically.
”Free trade policies have created a level of competition in today's open market that engenders continual innovation and leads to better products, better-paying jobs, new markets, and increased savings and investment” (Denise Froning). Though Free trade plays a huge role in the economy today because of what and where it is used. Free trade allows for traders to trade across national boundaries and other countries without government interference. Meaning that traders have very few regulations that allow for them to do this without the government intervening. Free trade makes things for traders much easier and also allows for many more jobs in the US, such as exporting jobs, or jobs in the auto industry and plants. Though there are many other types of trade policies, none give more benefits than that of free trade. Free trade is not determined by artificial prices that may or may not reflect the true environment of supply and demand.
Free trade is a policy that relies on the concept of comparative advantage that when comparing two countries one of those countries will have the capability to make a product that is better than the other country. So it is best if each country focuses its efforts and resources into one product to increase the economic activity for both countries. The determination of who produces a product better is based on the open market without intervention from a government who may try to control a trade by imposing government protective measures such as tariffs. The World Trade Organization has been tasked with monitoring free trade, but it has been noted that their policing has not been effective to stop such interventions. Free trade not only relies on a laissez-faire approach but also on assumptions of conditions. The assumptions used by many for economic theories are not always accurate but rather the justification for using the assumptions is so that economic theories can be applied for the greater good of an economy.