Us China Trade Agreement 2020 Pdf
As early as 2014, Roach predicted the possibility of a trade war between the United States and China as the least desirable option for the development of bilateral relations. To improve them and get rid of imbalances, he recommended increasing productive investment in the United States and accelerating the development of services and consumption in China. As we have tried to demonstrate, China has largely taken this advice into account and has largely overcome some production hypertrophy. Unfortunately, there are far fewer positive changes in the United States. The first phase of the economic and trade agreement between the United States and China. The U.S. vulnerability provoked a paradoxical reaction in April: the media and some U.S. officials asked China to recover the damage that the Americans allegedly suffered by concealing information about coronaviruses. Such fraud can be attributed to the indirect effects of the trade war, which constantly fuels anti-Chinese sentiment in American society.
According to Pew Research Center polls, 66 percent of Americans expressed a negative attitude toward China in March 2020, up from 55 percent in 2016 and 47 percent in 2017, when Trump took office. In order to understand the measures taken by the Chinese authorities to emerge from the recession, we need to look at the fundamental characteristics of the Chinese economy and the changes that have taken place over the past decade, and in particular during the years of the thirteenth Five-Year Plan (2016-2020). Table 4 clearly shows that services have become the largest sector of the country`s economy, although their share remains significantly lower than that of most developed and developing countries. Apparently, this explains, like the traditional austerity of the Chinese, the still relatively timid tread of the consumer revolution as the engine of development. As a result, economic growth continues to be largely, albeit less and less, provided by investment and credit. Investment efficiency is increasing (Table 5), so Chinese leaders seem reluctant to change the overall picture of relative economic and financial balance through large credit pumps. Let us repeat that by March 2020, the first signs of an improvement in the Chinese economy were already visible. The normalization of the food supply led to a 5.2% decline in the consumer price index in February (on an annual basis) to 4.3% in March and from 21.9% to 18.3% for food prices. By the end of the month, 95-99% of wholesale food markets and stores had resumed operations, restoring the previous year`s sales volume. The situation was worse in the trade in industrial goods, where sales were half as high as the previous year.
By the end of the month, 80% of restaurants and 60% of hotels had opened . The protection of trade secrets and other confidential information is also a major concern of US companies active in the Chinese market and who are particularly concerned that such information will be disclosed as a result of actions taken by the authorized Chinese authorities. This issue is covered by Article 1.9 of the agreement, which prohibits the disclosure of trade secrets and other confidential information by Chinese administrative authorities and obliges them to limit their business requirements to the provision of relevant data. The most remarkable part, which is almost unprecedented in the history of international trade, is the sixth chapter of the agreement, which outlines China`s commitments to purchase goods and services from the United States in 2020-2021.