ECONOMIC RELATIONS BETWEEN CHINA-UNITED STATE (1978-2015)

Abstract

In this thesis, the researcher investigates the international economic relations between the People’s Republic of China (PRC) and the United States of America (USA) in the period between 1978 and 2015. As such, the researcher studies (1) the historical background of the international economic relations between the two countries. Moreover, the researcher analyzes (2) the economic policy of
the PRC at various stages in the period of concern. Finally, furthermore, the researcher examines (3) the trend of international economic relations between the PRC and the USA in addition to the internal trend of policy governing the economic development of the PRC in the 21st century. In carrying out this qualitative research investigation, the researcher adopted a research methodology requiring the analysis of documents. Findings are as follows: 1. The relations between the PRC and the USA in the period
between 1978 and 2015 show increasing coordination and cooperation for the sake of mutual benefits. This developing
partnership has evolved into a strategic partnership in its more recent stages. This has led to relations on a plane higher than has hitherto been the case in the history of relations between the two countries. This has resulted in bilateral economic cooperation between the two countries, which at times has also involved multilateral relations with both the PRC and the USA being simultaneously involved with other countries. 2. An important factor generating more equable relations between the PRC and the USA was the fact that both countries were conscious of the imperative of pursuing their own interests. These interests were manifested in bilateral and multilateral levels on a global scale. The countries were interdependent and, as such, made use of
this state of affairs in accentuating their strengths and striving to become more stable. Economic matters are of paramount
significance in an era of globalization and have induced both countries to seek cooperation at higher levels. The PRC’s
foreign policy in respect to the economy in all periods since the premiership of Deng Xiaoping and from 1978 to 2015
reflected the goals of and what was economically beneficial to the PRC for the sake of the development of the country.
And 3. In regard to the relations between the PRC and the USA in the 21st century, the countries will continue to make
contact, enter into exchanges, negotiate with one another, and collaborate more and more extensively in an array of
aspects that promise to redound to the benefit of both countries, the Asia-Pacific region, and the rest of the world.
However, at the same time, there will be continuing conflicts, agreements, and problems to be solved. Overall,
the relations in this period should prove to be friendly and yet competitive, as well as continuing to reveal mutual
dependence. Concerning the trend of the PRC’s development policy, the researcher holds that there is a tendency to
pursue economic development throughout the country in order to decrease inequality and to foster sustainable
development, especially as shown by economic policies fostering solutions to severe environmental problems.
Competitive capacity should be heightened, as well as internal economic cooperation. This would be a resultant of
cooperation and economic relations between the PRC and the USA.