Empirical Study On The Causes Of Sino-US Trade Friction Since The Reform And Opening-up

Since the establishment of diplomatic relations between China and the United States and China’s reform and opening up,the development of Sino-US economic and trade cooperation has played the effect of ballast stone and stabilizer in Sino-US relations.In 2019,China and the United States were each other’s third largest trading partner,with bilateral trade in goods reaching US $558.87 billion,down 15.30 percent from 2018,but still higher than the bilateral trade volume between China and the United States in 2014.China and the United States are each other’s third largest trading partner in 2019.After more than 40 years of reform and opening up,two-way investment between China and the United States has gone from almost zero to nearly 160 billion US dollars.However,under the joint influence of the improvement of China’s comprehensive strength,the economic and trade imbalance between China and the United States,and the conflict of political interests,the United States intends to gain tariff advantage from the trade war and promote the return of its manufacturing industry,launch a financial war to curb China’s economic rise,provoke a scientific and technological war to hinder China’s high-tech development,disrupt China and its surrounding relations through geopolitics,and finally achieve an omni-directional prevention of China’s comprehensive strength and international status.And maintain the hegemonic position of the United States,Sino-US economic and trade relations continue to be tense.Therefore,under the trend of long-term and normal development of Sino-US trade friction,it is of great practical significance to study the issue of Sino-US trade friction.By summarizing the data of Sino-US economic and trade development for more than 40 years,this paper uses qualitative analysis and quantitative analysis to analyze the theoretical basis,specific performance and characteristics of Sino-US trade frictions,and discusses the causes of Sino-US trade frictions.and put forward targeted countermeasures.This paper focuses on the main manifestations and causes of trade frictions between the two countries.It is considered that the manifestations of Sino-US trade friction are flexible and diverse:the United States frequently initiates trade remedies,implements technology export controls on China,adopts tariff protection policies,restricts Chinese enterprises’ investment in the United States,friction in Sino-US intellectual property rights and RMB exchange rate.Based on the analysis of the causes of Sino-US trade friction,this paper puts forward the hypothesis of the factors affecting Sino-US trade friction.By setting up a negative binomial counting model,this paper empirically tests the impact of Sino-US trade balance,Sino-US GDP growth gap,US dollar-RMB exchange rate,US unemployment rate,Sino-US bilateral political relations,China’s accession to the WTO and the economic crisis in 2008 on Sino-US trade friction.The empirical results show that the above indicators have a significant impact on Sino-US trade friction.As the causes of trade frictions initiated by the United States are diversified and characterized by diversification and complexity,long-term and regular development,China should prevent and deal with them properly for a long time,and take countermeasures and suggestions to deal with this round of trade frictions from the aspects of consultation between China and the United States,regional cooperation and exchanges,and China’s own development.