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The New York Times piece by Neil Irwin is headed ""How Trump Might Repair the Complicated US-Chinese Economic Partnership"". He discusses the strength of China's currency, the trade disparity between the two major economies, President Trump's disparaging remarks about China throughout his campaigns, and the fact that change does not happen overnight. The currency remains a major concern, and the article suggests that the US president might utilize this time to reach an agreement on its objectives if market forces begin to push the yuan upward (Irwin, 1).

The article's main elements are the currency and the trade deficit. The trade deficit is a major issue because of the factors that drive it. A lower trade deficit would worsen the situation if carried out wrongly. For example, if a trade war led to America reducing its imports from China and exports to China there would be fewer jobs and lower incomes in both countries. One of the factors influencing this trade imbalance is China's trade barriers enacted against American companies. Another factor is different quotas and restrictions that reduce agricultural imports. Both countries play a significant role in international trade, and as much as change cannot come overnight, it is possible for the two countries to reach to an agreement on the main trade issues (Irwin, 1).

I think the fact that the leverage each side has to deploy is limited if the two countries come up with reasonable agreements. I agree with the sentiments in the article because it is true that these two nations are powerful countries that cannot be easily swayed (Buttsworth, 33). They both contribute a lot regarding international trade and creation of employment. China would achieve its bigger goals like achieving "market economy" status by allowing foreign companies better access to its market and removing some of the restrictions.

Works Cited

Buttsworth, Matt. China Versus the U.S - The Chinese Challenge to the World Trading System. New York: Amazon. 2017. Kindle Edition.

Irwin, Neil. How Trump Can Improve the Messy U.S. - Chinese Economic Relationship. New York: New York Times. April 6 2017. Print.

May 10, 2023

Business Government

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