Development Of Sino Us Economi Essay

2597 words - 10 pages

Development of Sino-US economic and trade relations.When you are eager to get in touch with your family or friends, Motorola can transmit messages for you anywhere at any time. When you open ¡°Windows 98¡±, when you are taking Boeing Aircraft, when you are eating McDonald¡¯s or Kentuky Fired Chicken with relish while drinking Coca-Cola, have you ever thought that it is development of Sino-US economic and trade that have brought so many favors to us? Have you ever known the developed course of Sino-US economic and trade relations? Have you ever cared about the future of Sino-US economic and trade relations? I¡¯ll be glad to talk the development of Sino-US economic and trade relations about its past, present and future.Let's review the development of Sino-US economic and trade relations.On February 21,1972, when President Nixon arrived at Beijing Airport, the late Chinese Premier Zhou Enlai took his hand and said: ¡°You have reached across the world¡¯s largest ocean to shake my hand.¡± The historic handshake ended the more than two decades of hostile separation of the world¡¯s two great nations, and China established officially diplomatic relations with the US on January 1, 1979. During President Nixon¡¯s visiting, China purchased 10 Boeing airplanes from America, which is a real beginning of Sino-US economic and trade co-opration.Bilateral economic ties and trade have developed rapidly since the two countries resumed high-level contacts and opened the door for further development of relations in 1972. Trade between the two countries grew out of nothing, expanded from small to large and is rising in a gratifying way.According to statistics from the China General Administration of Customs, Sino-US trade in 1997 amounted to US$48.99 billion, 20 times the figure of 1979 when the two countries established diplomatic relations. In the 18 years from 1979 to 1996, two-way trade totaled US$260.6 billion. Between 1979 and 1995, the United States was China¡¯s third largest trading partner, and in 1996, it moved up to second place. In the 1990-1997period, the trade volume increased at an average annual rate of 22.6 percent, much higher than the 15.9 percent average annual growth rate of China¡¯s foreign trade in the same period. By the end of last year, Sino-US trade accounted for 15 percent of China¡¯s foreign trade volume. According to the latest Chinese customs statistics, the United States surpassed Hong Kong to become the Chinese mainland¡¯s second largest trade partner after Japan in the first five months of this year. Between January and May of this year, the bilateral trade reached US$19.8 billion, up 12.6 percent over the same period last year. China¡¯s exports to the US grew by 18 percent to US$13.3 billion, when imports from the US hit US$6.4 billion, an increase of 2.6 percent over the same...

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