The Obama Economic And Trade "New Deal" And Its Impact On Sino-US Economic And Trade Relations

Barack Obama, the Afro-American president, took his office in the White House,which has been written into American history as a landmark event in Americanpolitics. Taking change as his slogan, Obama swore that he would lead America to brave once more the icy currents and endure what storms may come. ThereforeObama s New Deal has attracted worldwide attention after his election to thepresidency.From the view of domestic economic situation of the United States,Obama scoming to power coincides with the financial crisis caused by the economicrecession in the United States.Thus in the presidential election, he implementedNewDeal to correct the Bush government s economic policyin order to adjust andreformeconomic policies inevery sector of US economy. Thecore content of the Newdeal is thestimulus package to prompt the United States economic recovery. ForBarack Obama, the biggest challengeforhis New Deal is to restore the American andglobal confidence in American economy as well as leading the United States out ofthe crisis.In the economic sphere Obama proposed to revive theAmericanmanufacturing industry by industrial upgrading and export multiplicationplan. At the mean time tax were regularized to encourage entrepreneurship and createjobs. Not only did the New Deal aim at saving the American economy in jeopardy, but also accomplishing a new round of industrial revolution against therecession.Therefore America could regain the commanding height of global economywhich means leading the future direction of global economic development.The United States and China are the world s first and second largest economy.And Sino-Us bilateral trade has become one of the largest and fastest growing leadingmodels of global bilateral economic and trade cooperation. According to Chinesestatistics, in2012the United States has become China’s second largest trade partneraswell as the largest export country. Meanwhile, the U.S statistics shows that in2012China has become America’s second major trading partner, the third largest exporttrading country and the largest import trading country. Thus the implementation ofObama s New Deal will definitely have tremendous impact on Sino-US economic andtrade relationship. So comprehensive analysis of the New Deal along with what itbrings about to Sino-US economic and trade will not only contribute to a deeperunderstanding of Obama’s New Deal, but also the healthy development of Sino-USeconomic and trade relationship. Moreover, it helps making effective anticipation forfuture development of Sino-US economic and trade relationship so as to madetargeted suggestions. Based on a wealth of data, I believe the thesis will helpunderstanding the development of Sino-US trade,eliminating trade barriers and aboveall, will be both theoretical and practical in promoting healthystable development ofSino-US trade.