Industrially Economic Impacts of Trump Administration's Trade Policy Toward China

Lizhi Xing ()
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Lizhi Xing: Beijing University of Technology

Chapter Chapter 7 in Complex Network-Based Global Value Chain Accounting System, 2022, pp 161-178 from Springer

Abstract: Abstract Since the establishment of diplomatic relations between China and the United States in 1979, the scale of trade between the two countries has been expanding. During this period after its reform and opening up, China has established a complete industrial system and gradually become a manufacturing power. Following its leapfrog to the second largest economy in the world in 2010, China put forward the “Made in China 2025” strategy in 2015 and started its industrial transformation and upgrading [1, 2], shifting from the high-speed development stage to the high-quality development stage [3]. At the same time, the United States manufacturing has been moving offshore, leading to a serious hollowing-out of its local industries. Under the influence of the Trump administration’s “America First” policy and trade protectionism [4], trade frictions between China and the United States have intensified and eventually evolved into a trade war that split over to the rest of the world between 2018 and 2019.

Date: 2022
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DOI: 10.1007/978-981-16-9264-2_7

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