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U.S. Trade Deficit and China

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Celone, Barton V., editor. China-United States trade: inextricably intertwined? New York: Nova Science Publishers, c2008. 151 p.
LC Call Number: HF3838.U6 C449 2008
LC Catalog Record: 2007046486

Publisher description: U.S.-China economic ties have expanded substantially over the past several years. With a huge population and a rapidly expanding economy, China is a potentially huge market for U.S. exporters. However, economic relations have become strained over a number of issues, including China’s large and growing trade surpluses with the United States; its failure to fully implement its World Trade Organization (WTO) commitments, especially in regards to intellectual property rights (IPR); its refusal to adopt a floating currency system; and its maintenance of industrial policies and other practices deemed unfair and/or harmful to various U.S. economic sectors. This book presents important analyses which deal in part with whether the US economy would seriously falter with a substantial decrease in trade activity with China.

U.S. Trade with China

Selected Resources

Table of Contents

General Resources
U.S. Trade Deficit & China
U.S. & China Currency Policies
Oil Prices & U.S. Trade Deficits
Statistical Resources
Online Periodicals

Hanjin company container ship at port in the Port of Vancouver
Image (above):
Hanjin company container ship (Port of Vancouver)
Courtesy of Joseph Sams.

Chen, Shuxun and Wolf, Jr., Charles. China, the United States, and the Global Economy.
Santa Monica, CA.: Rand Corporation, 2001. 296 p.
LC Call Number: HC427.92 .C464449 2001
LC Catalog Record: 00068329
Online version: External Link
Publisher description

Hufbauer, Gary Clyde, Wong, Yee and Sheth, Ketki. US-China trade disputes: rising tide, rising stakes. Washington, DC: Institute for International Economics, 2006. 111 p.
LC Call Number: KF6660 .H84 2006
LC Catalog Record: 2006020506

Publisher description: Since its accession to the WTO, China has become the United States’ third-largest trading partner and the sixth-largest market for US exports. Between 2000 and 2005, US imports from China rose from $100 billion to $243 billion, while US exports to China climbed from $16 billion to $42 billion. As China continues its rise as a great power, The United States Congress and the administration wrestle with one another over the proper tactics and strategies to shape US-China economic relations. What major disputes now, and looming on the horizon, will shape future US-China relations; and what can be done to solve, or at the very least to manage, them? This important new book examines these issues and offers suggestions for both sides.

Martin, Lambert S. World Trade Issues. Hauppauge, N.Y.: Nova Science Publishers, c2002. 173 p.
LC Call Number: HF1379 .W667 2002
LC Catalog Record: 2002512107
Table of Contents

Publisher description: The interaction among national economies is critical to today's globalised society; no country can survive without trade. Major international organisations like the World Trade Organisation attempt to oversee and regulate these important relations. The United States, as the world's leading economic power is intimately involved with other countries and its own policies impact each nation. This book presents analyses of major international trade issues, emphasizing their effects and relevance to the US. This overview is valuable to understanding the status of the global economy and America's role in it.

Overton, Rachel H. China’s trade with the United States and the world. Hauppauge, N.Y. : Nova Science Publishers, c2009. 71 p.
LC Call Number: HF3838.U6 O94 2009
LC Catalog Record: 2008047196

Publisher description: This book provides a quantitative framework for policy considerations dealing with U.S. trade with China. It provides basic data and analysis of China’s international trade with the United States and other countries. Since Chinese data differ considerably from those of its trading partners (because of how entrepot trade through Hong Kong is counted), data from both PRC sources and those of its trading partners are presented. Charts showing import trends by sector for the United States highlight China’s growing market shares in many industries and also show import shares for Japan, Canada, Mexico, the European Union, and the Association for Southeast Asian Nations (ASEAN).

Rothgeb, John M. Jr. U.S. Trade Policy: Balancing Economic Dreams and Political Realities. Washington, DC: CQ Press, c2001. 278 p.
LC Call Number: HF1455 .R618 2001
LC Catalog Record: 2001000764

This work is a careful but concise examination of American trade policy and how it has evolved over the half past century. Written in an accessible style, it focuses on how current controversies and issues have resulted from past policy, and it discusses how they are likely to play out in the future. Readers will find insightful discussions of NAFTA, trade relations with China, the Uruguay Round, and the WTO. Book News, Inc.

Tao Xie. U.S.-China relations: China policy on Capitol Hill. London; New York: Routledge, 2009. 203 p.
LC Call Number: E183.8.C5 T36 2009
LC Catalog Record: 2008014023

Publisher description: With China's rapid ascendance to great power status, the U.S.-China relationship has become one of the most important international relationships in the world today. This book explores relations between the U.S. and China, focusing in particular on China policymaking in the U.S. Congress, which has been unusually active in the development of this relationship. Based on detailed analysis of China bills introduced in Congress over the past three decades, it provides detailed analysis of how Congressional policymaking works in practice, and explores the most controversial issues in U.S.-China relations: Taiwan, trade and human rights. It considers the voting patterns and party divisions on these issues, showing that liberals and conservatives often form an alliance concerning China because China's authoritarian regime, human rights problems, soaring trade surplus with the U.S. and rising military power attract criticism from both camps. It also argues that congressional committees, bicameralism and presidential veto make it virtually impossible for Congress to legislate on China, despite its intense preferences, and therefore Congress often turns to informal – but no less effective – means to exert influence on China policy, such as framing public opinion and generating situations that result in anticipated reactions by the executive branch or Beijing.

U.S.-China trade and investment: impact on key manufacturing and industrial sectors: field hearing in Akron, Ohio. Hearing before the U.S.-China Economic and Security Review Commission, One hundred eighth Congress, second session. Washington, DC:
U.S. G.P.O. c2004, 167 p.
LC Call Number: HF1456.5.C6 U184 2004
LC Catalog Record: 2005364967

As studies show, Ohio is running a substantial trade deficit with China, with imports from China outpacing exports by nine to one, while nationally, that ratio is six to one. The industry and community impacts have been analyzed and the following recommendations for US Government have been developed: to immediately pursue a WTO action against China regarding the undervaluing of its currency; mitigate tariffs heavily disadvantaging US auto exporters; consulate with trade partners on the violation of China's WTO commitments regarding export constraints (in particular, restrictions on coke); to use all available enforcement tools more fully and effectively, to conduct a public awareness program to inform laid-off workers about existing and newly established programs such as Trade Adjustment Assistance.

United States Government Accountability Office. China trade: U.S. exports, investment, affiliate sales rising, but export share falling: report to congressional committees. Washington, D.C. : GAO, 2005. 69 p.
LC Call Number: HF3838.U6 U54 2005
LC Catalog Record: 2006360001  [PDF Format: 1.61 MB / 75 p.]

Publisher description: China is important to the global economy and a major U.S. trading partner. By joining the World Trade Organization (WTO) in 2001, China pledged to further liberalize its trade regime and follow global trade rules. While U.S.-Chinese commercial relations have expanded, controversies have emerged, including the size and growth of the U.S. trade deficit with China, China's lack of intellectual property protection, and China's implementation of its WTO obligations. Despite these challenges, China's vast consumer and labor markets present huge opportunities for U.S. exporters and investors. GAO (1) analyzed U.S. goods and services exports to China, (2) assessed how U.S. exports to China have fared against those of other major trading partners, and (3) analyzed U.S. investment and affiliate sales in China.

Weber, Maria. Welfare, environment, and changing US-Chinese relations: 21 century challenges in China. Cheltenham, UK; Northampton, MA: Edward Elgar Pub. in association with ISPI, c2004. 181 p.
LC Call Number: HC427.95 .W45 2004
LC Catalog Record: 2004054864
Table of Contents

Publisher description: The book begins by addressing key issues now subject to considerable debate, such as sustainable growth, the imbalances in society deriving from growing inequalities and environmental threats. Concluding this section is an overview of how Chinese-US relations - and China's geo-political role at the international level - have evolved at the turn of the 21st century." "The book then goes on to analyse those issues linked to the impacts of recent welfare system reforms. In particular, those impacts on health care and pension systems, growing unemployment deriving from the reform of state-owned enterprises and the related phasing out of the 'cradle-to-grave' welfare system. The closing chapter looks at the potential provided by a fast-growing insurance market in conjunction with WTO opening measures, to assess whether increased opportunities are likely to arise for foreign insurance suppliers.

Yankovich, Carl T. editor. U.S. trade deficit issues. New York : Nova Science Publishers, c2010. 129 p.
LC Call Number: HF3031 .U537 2010
LC Catalog Record: 2009054186

This book touches upon the trends in U.S. international trade and discusses the causes, consequences, and cures of the U.S. trade deficit. It concludes that "policy action to reduce the overall trade deficit is problematic. Standard trade policy tools (e.g., tariffs, quotas, and subsidies) do not work. Macroeconomic policy tools can work, but recent and prospective government budget deficits will reduce domestic saving and most likely tend to increase the trade deficit. Most economists believe that, in time, the trade deficit will most likely correct itself, without crisis, under the pressures of normal market forces. But the risk of a more calamitous outcome can not be completely discounted." Adapted from Publisher description.

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Selected Internet Resources Foreign Policy: Economics and Trade. U. S. Dept. of State. International Information Programs.

This site features materials focusing on U.S. foreign policy, international trade a variety of issues and topics of interest worldwide.

Does China Enact Barriers to Fair Trade? Joint Hearing before the Subcommittee on Rural Enterprises, Agriculture and Technology and the subcommittee on Tax, Finance and Exports of the Committee on Small Business. 109 Congress. 1st sess. May 26, 2005. via GPO Access. US Government Printing Office. [PDF Format: 5.3 MB / 192 p.]

Focuses on the U.S. trade deficit with China, issues in the protection of intellectual property rights and the need for standards to protect workers and the environment.

United States-China Economic Relations and China's Role in the Global Economy. Hearing before the U. S. Congress. House. Ways and Means Committee. 108 Cong. 1st Sess. October 30-31, 2003, via GPO Access. US Government Printing Office. [PDF Format: 1.6 MB / 290 p.]

The hearing focuses on "United States-China economic relations and China's role in the global economy, with a narrower focus on the following: (1) implementation of China's WTO accession commitments (including issues relating to removal of quotas and tariff-rate quotas, export subsidies and discriminatory taxes on imports, and the use of non-tariff barriers to limit bio-engineered imports); (2) trade relations between the United States and China; (3) China's currency management; and (4) the relationship between trade with China and the U.S. economy, particularly the manufacturing sector." from Advisory, [announcing hearing] pp. 2-3.

China, the United States, and the Global Economy by Shuxun Chen and Charles Wolf, Jr.
Santa Monica, CA. : Rand Corporation, 2001. 308 p. External Link

This book contains the edited papers presented by Chinese and American scholars and practitioners at the second of four annual conferences organized by RAND (Santa Monica) and the China Reform Forum (Beijing), held at RAND on November 9 and 10, 1999, and includes discussion of China's World Trade Organization membership, the outlook for the U.S. and Chinese economies, and Sino-U.S. security relations. The RAND Corporation is a nonprofit institution that helps improve policy and decision-making through research and analysis.

OECD iLibrary (Available Onsite Only)

This web site is a plentiful source of OECD working papers, journals, books and statistical materials prepared by the OECD Secretariat, consultants, or delegates.

U.S. Census Bureau Foreign Trade Statistics

U.S. Census Bureau provides detailed statistics on trade in goods and services between the U.S. and foreign countries. This link highlights Trade in Goods (Imports, Exports and Trade Balance) with China.

U.S.-China Economic and Security Review Commission

The official site of USCC provides access to hearings, annual reports, testimonies and speeches. The purpose of the Commission is to monitor, investigate, and submit to Congress an annual report on the national security implications of the bilateral trade and economic relationship between the United States and the People's Republic of China.

Appreciate This: Chinese Currency Rise Will Have a Negligible Effect on the Trade Deficit by Daniel J. Ikenson. CATO Institute. External Link

This article on Chinese currency and the trade deficit, is among the numerous books, monographs, briefing papers and short studies on public policy that may be found on the web site of the CATO Institute, a non-profit public policy research foundation.

Using Disaggregated Data to Dissect the U.S. Trade Deficit by William Alterman. U.S. Dept. of Labor, Bureau of Labor Statistics. [PDF Format: 88 KB/ 33 p.]

The Bureau of Labor Statistics is the principal fact-finding agency for the Federal Government in the broad field of labor economics and statistics. This article focuses on using disaggregated data to understand the U.S. trade deficit.

China-U.S. Trade Issues by Wayne M. Morrison, Specialist in Asian Trade and Finance. Congressional Research Service. Library of Congress. July 29, 2010. Access via The Federation of American Scientists web site. External Link [PDF Format: 382 KB/ 39 p.]

Discusses the U.S.-China trade imbalance and major trade issues between the two countries.

U.S. Congress. House of Representatives. House Committee on Foreign Affairs.

This U.S. House of Representatives Committee on Foreign Affairs web site includes links to committee hearings and other documents and publications on the United States' international relations.

The U.S. Trade Deficit and China, statement by C. Fred Bergsten before the U.S. Congress. Senate Committee on Finance. March 29, 2006 in a Hearing on US-China Economic Relations. Revisited. External Link

In his testimony, Bergsten, Director of the Institute for International Economics, recommends a five part strategy for US policy on the currency issues with China.

U.S. Trade Deficit: Made in China? by Chad P. Bown, Meredith A. Crowley, Rachel McCulloch, and Daisuke J. Nakajima. In Economic Perspectives. Federal Reserve Bank of Chicago. External Link [PDF Format: 88KB/ 17p.]

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Library of Congress Catalog Searches

Additional works on this topic in the Library of Congress may be identified by searching the Online Catalog under appropriate Library of Congress subject headings. Choose the topics you wish to search from the following list of Library of Congress subject headings to link directly to the Catalog and automatically execute a search for the subject selected. Please be aware that during periods of heavy use you may encounter delays in accessing the catalog. Please see the individual sections of this guide for catalog searches relating to those topics. For assistance in locating other subject headings which relate to this subject, please consult a reference librarian.

Balance of payments--United States.       Globalization
Banks and banking, International       Imports--United States
China--Commercial policy.       Insurance, Export credit--United States
Export credit--United States       International business enterprises
Export Import Bank of the United States       International economic relations
Export marketing--United States       International finance
Exports--United States       International trade
Financial institutions, International       Trading companies
Foreign Credit Insurance Association       United States--Commerce--China
Foreign trade regulation--United States       United States--Commercial policy

Last Updated: 10/30/2015

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  May 10, 2016
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