Study On The Sino-US Trade Friction After Financial Crisis

As the largest developing and developed countries, the contribution and the importance of China and the U.S. to the world economy are growing, especially during the financial crisis. According to the forecast of the relevant authorities of the United Nations,China contributed to the world economy more than 50% in 2009,and as the first superpower of the world economy,the impact of the United States to the world economy is self-evident.The deep cooperation of Sino-US will be helpful for the stability of the world economy and the financial situation,and will bring faith and motivation to the world economic recovery. The economic exchanges between China and America are also increasingly close.The Sino-US trade increased quickly from 74.4 billion dollars at 2000 to nearly 300billions dollars at 2009.And the trade reached to more than 170 billion dollars in the first half of 2010. The trade between China and America has more and more influnence on the economies of two countries and they become each other's second largest trade partner. With the economic ties increasingly closer,the trade frictions appear more frequently in the trade. After the financial crisis,'What is the basic characteristics of Sino-US trade friction', What is the focus of the trade friction',and'what are the soluntions contrast to the previous'are all becoming urgent research problems. This article tries to reslove these problems based on the Sino-US trade frictions as the basic research object after the financial crisis.This paper is divided into six parts to study on the Sino-US trade frictions after the financial crisis era.The first part is the introduction, mainly introducing the research background and meaning, the article content structure and innovations.lt provides the reviews of the literature in this field both at home and abroad,and do basic preparions for researching the trde frictions.The second partbriefly introduced the trade historical developmental process which wre divided into four parts. The first stage is freezing period, from 1949 to 1978,America had taken economic blockade policy to China,which were eased after Nixon's visit to China; The second part is from 1979 to 1991,and during this periond the trade relations between China and America develop steadily.The trade between the two countries gradually uploads and America also progressively liberalized its high-tech exports policy under the drives of three Sino-US joint communiques; The third stage is the fast development period from 1992 to 2001. Although America banned exporting its high-tech products to China, and often provoked incidents with the most-favoured-nation treatment, the two countries' trade presents the fast development tendency as the result of there economic complementarity;and the last period is the accelerated development stage since China joined WTO from 2002.The third part focuses on analyzing the influence of the financial crisis to Sino-US trade and influence of the economic stimulus to the trade development trend of two countries during the period of the financial crisis.During the financial crises, our country mainly adopted the loose monetary policy and the positive fiscal policy to promote the policy of upgrading the industrial structure and boosting domestic demand, while the United States mainly adopted measures of nationalisation reform, financial reform, increasing the strength of trade protection measures as well as lowering interest rates. This will change both advantages and commercial pattern of the two countries. But based on the complementarities of Sino-US trade, we put forward the following ideas:sino-us trade relations will not get in a deadlock,keeping healthy and stable trade relations between the two countries will not only help to the sustainable development of economy, but also has positive significance to maintain steady development of the world economy.The fourth part analyzes the new changes and new characteristics of the Sino-US trade friction after the financial crisis. America's measures of trade sanctions focused on traditional trade barriers including anti-subsidy, anti-dumping and non-traditional trade barriers including safeguard, intellectual property and so on. This section introduced the new features of the trade friction from three aspects, including the rapid increase of the number, varieties and scope of Sino-US trade friction, and the controlling of the trade friction.The fifth part mainly analyses the main reasons of sino-us trade friction after the financial crisis,including American domestic hard-line policies, Sino-US trade imbalance,the exchange rate of RMB,and America's export control on hi-tech products.The sixth part mainly presents some suggestions and advices aimming at the new features of the Sino-US friction after the financial crisis. It maily includes full use of WTO rules, expanding domestic demand and international trade kingdom, strengthenning the range between China and the United States strategic dialogue and other measures and suggestions.