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China Vs Usfg Essay

645 Words3 Pages

The U.S. and China own the strongest economies in the world. The two countries also currently strongly engage economically with each other. As the two countries’ economies mature, they may be a need for stronger economic engagement. The USFG should substantially increase its economic engagement with the People’s Republic of China.

The U.S. is economically dependent on China. More than 800,000 American jobs depend on the flow of goods and services between the U.S. and China (Baden 2). China is currently the U.S.’ second-largest trading partner, third-largest export market, and biggest source of imports (Paulson 2). The U.S. also imports more from China than it exports (Morrison 8). The U.S. currently restricts the export of two items: …show more content…

has access to put the plan into effect. Today, changes in trade finance, the internet, and exchange agreements have significantly expanded access to markets around the world. The U.S. has a competitive advantage because it is known worldwide for having high quality, innovative goods and services, customer service, and sound business practices. Another advantage to this plan is that it will provide a sense of safety and growth for businesses. Generally, in businesses that export, sales grow faster, more jobs are created, and employees earn more than in non-exporting firms. Companies that export are more likely to stay in business. Increasing exports will also be beneficial to the U.S. as a nation. Exports account for 13.8 percent of the nation’s GDP, so the U.S. keeping its exports is important (International Trade Administration).

A disadvantage to this plan is that it could jeopardize the U.S.’s reputation for having wide opportunities and good business practices. In order to increase exports, more people in the U.S. would have to work in factory jobs to make more products. Factory workers in the U.S., on average, make $11 per hour (Payscale). This is lower than the promised salaries of other jobs. Factory jobs also do not offer many benefits; It is difficult to live a good life on a factory worker’s salary

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