The Political Eeonomy Of Sino-US Trade Imbalance

In1979, the Sino-American government signed "Sino-U.S. Trade Agreement", which represented that an formal diplomatic relations was established between China and U.S. From then, China and U.S. formed a new situation in bilateral trade development. According to China’s Ministry of Commerce, from1979to2011, the average annual growth rate of Sino-U.S. bilateral trade was17.7%and the amounts increased by181times during33years. By the end of2010, Sino-U.S. bilateral trade comes to446.7billion dollars, meanwhile U.S. is the second trade partner of China and the biggest export market, what’s more, China is United States’second trade partner and the third exporting market. However,along with the increasing dependency of the bilateral trade, the imbalance problem of Sino-U.S. trade also surfaced. According to China’s Ministry of Commerce, since china’s first time of achieving trade surplus with U.S in1993, the trade surplus increased sharply. In2000, China-U.S trade surplus increased to30.6billion dollars, then it surpassed100billion dollars in2005. In2011, it rises further to202.3billion dollars, the average annual growth rate of which is21.8%,and China is the biggest source of the trade deficit of U.S Since2000. The outstanding of trade imbalance has already affected the normal development of trade relations of Sino-U.S. Therefore, under the context of globalization, studying the true reason of Sino-us trade imbalance,recognizing the essence of Sino-us trade imbalance, finding out the adjustment method of trade imbalance, and realizing the sustainable development of china-us economic and win-win result has become an urgently important problem to be solved on the current economic and trade exchanges between China and U.S.This paper, on the basis of trade imbalance related theory, mainly adopts theoretical analysis method, empirical analysis method and quantitative analysis method to research the trade imbalance problem. Firstly, the paper summarizes the relevant economic and political theory of the trade imbalance, which lays theoretical basis for analyzing the trade imbalance. Secondly, the paper analyzes the condition of Sino-US trade imbalance, especially analyzing the total amount and the structure of Sino-US trade imbalance during the WTO times,and then study the negative affection of Sino-US trade imbalance. What’s more, through the combining analysis methods, the paper aims to find out the influence factors of Sino-us trade imbalance. Finally, according to the analysis result, the paper raises corresponding strategic adjustment measures for Sino-US economic and trade relationship, which is under the restriction of Sino-US trade imbalances.Text is divided into five parts:Chapter I:Analyzing the background of the producing and expanding of Sino-Us trade imbalances and determining the reality significance of the research of Sino-Us trade imbalance; Introducing the researching status of domestic and foreign scholars in the following aspects:international industrial transferring, Internal structure imbalance and foreign direct investment in china with Sino-US trade imbalance, Us exporting control dislocation problem, trade profits allocation of Sino-Us trade imbalance; then introducing writing ideas, structure, researching method, innovations and limitations of this thesis.Chapter II:Firstly, the paper summarizes the relevant economic and political theory of the trade imbalance, which are the comparative advantage theory, internal products trade theory, new protection trade theory, State interest theory, inter-dependence theory,the trade measures on political markets.Chapter III:Introducing the history of Sino-Us trade imbalance, Then, studying details of Sino-US trade imbalance during the WTO times from the perspective of overall trade imbalance, export commodity structure, product categories, benefit distribution and negative affection, which vividly shows the objective situation of Sino-Us trade imbalance.Chapter IV:Studying the economic factors and political factors which drives the Sino-US trade imbalance under the background of economic globalization and trade liberalization. The economic factors and political factors respectively including:industrial structure transferring, internal structure imbalance, foreign directinvestment in china and America exporting control dislocation, games of Interest group, Sino-US strategic game. In the end of this part, the paper summaries that these factors will exsit in long-term,which makes the Sino-US trade imbalance as a normal phenomenon in bilateral intercourse of economic and trade.Chapter V:On the basis of the above analysis", this part aims to raise strategic countermeasures to ease Sino-Us trade imbalance in mutually acceptable degree range from the adjustment under inter-National balance of payment, the international monetary system reform, the proper adjustment of political and economic between US and china.