THE U.S. AND CHINA ECONOMIC TRADE RELATIONS: AN ANALYTICAL SURVEY
Abstract
Purpose – This paper is devoted to disclosing urgent macroeconomic trade issues taking into consideration the case of China and the United States of America.
Methodology – The primary research methodology of this paper is based on conducting the comparative analysis of existing patterns of macroeconomic development, political differences and social issues within China and the U.S. The given analysis is based on PEST, SWOT, Risk identification techniques as well as the diamond model by M. Porter detecting competitive advantages for the countries mentioned above. It is also implemented the systematic vision, causes and consequences analysis, and expert assessment.
Originality/Value – Nowadays the U.S.-China trade disputes is the current issue of great global impact and significance. These trade relations support more than two and a half million jobs in the United States in various industries, including jobs created by Chinese companies in America. And the Chinese middle class continues to expand rapidly over the next decade. According to expert estimates, by 2026 the number of Chinese middleclass consumers will exceed the entire population of the United States. This means that the U.S. companies will face serious challenges to attract a new and profitable customer base, which can further increase employment and economic growth. Thus, this paper presents the most contemporary analytical review of this current economic situation based on the latest data of 2017-2018.
Findings – In the given research it has been studied the current issue of the U.S. and China economic trade relations. It has been analyzed the current economic, social and political aspects of trade relations between the United States and China. It has been detected their advantages and disadvantages for both countries based on methodologies and analytical tools described above. It has been considered the possible solutions and recommendations on how to improve the current macroeconomic relations between given countries.
About the Authors
I. V. Onyusheva
Turan University
Kazakhstan
Kazakhstan
PhD, Associate Professor
Almaty
Tengfei Lu
Stamford International University
Thailand
Thailand
Bangkok
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Review
For citations:
Onyusheva I.V., Lu T. THE U.S. AND CHINA ECONOMIC TRADE RELATIONS: AN ANALYTICAL SURVEY. Central Asian Economic Review. 2018;(4):103-111.
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