Marketization the Key to Solving China-U.S. Trade Imbalance*

FENG Lei1 and LI Feng2

1 Professor, Institute of Finance and Trade Economics, Chinese Academy of Social Sciences
2 Deputy Director, Beijing Institute of International Economy and Trade
Abstract:

China-U.S. trade has expanded rapidly over the past three decades, during which China’s trade deficit has turned into a trade surplus. China’s exports to the United States account for 20 percent of China’s total export trade, but the United States’ exports to China make up less than 10 percent of its export trade. The trade dependence ratio of the two countries has a difference of up to 27 percentage points. While China’s economy and foreign trade become increasingly market-oriented, the U.S. implements long-term export restriction policies against it. Raising the degree of marketization of trade between China and the U.S. is the key to redressing the China-U.S. trade imbalance.

Key Words:

China-U.S. trade, imbalance, the degree of marketization

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