The Impact Of Sino-U.S. Trade On The US Economy And Politics

China's economic rise has led to substantial growth in U.S.-China economic relations. Total trade between the two countries has surged from $4.9 billion in 1980 to an estimated $343 billion in 2006. For the United States, China is now its second largest trading partner, its fourth largest export market, and its second largest source of imports. Inexpensive Chinese imports have increased the purchasing power of U.S. consumers. However, the emergence of China as a major economic superpower has raised concern among many U.S. policymakers. Some express concern that China will overtake the United States as the world's largest trading economy in a few years and as the world's largest economy within the next two decades. In this context, China's rise is viewed as America's relative decline. This paper examines the implications—both challenges and opportunities for the U.S. economy from China's rapid economic growth and its emergence as a major economic power.