Question

Explain about political economy view related current economic condition such as china and us trade conflict?

Answer 1

Political views of both US China contradict because of widened trade deficit.

The approach is simply tit for Tat where US imposes trade sanctions and import duties using protectionist policy. Similarly China follows the suit. Since China's inception of entry into WTO it has devalued its goods and created huge scale exports leading to burgeoning trade deficit.

The only way both nations have reached truce is through G20 summit where both have agreed ceasefire and Cjina has resooved to import more from UsA and reduce its exports to recalibrate trade deficit and maintenance of healthy economic relationships ahead.